Banque Pictet & Cie SA Decreases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Banque Pictet & Cie SA lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 51.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,986 shares of the software company’s stock after selling 39,729 shares during the period. Banque Pictet & Cie SA’s holdings in Autodesk were worth $9,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ADSK. Signaturefd LLC lifted its holdings in shares of Autodesk by 11.1% in the fourth quarter. Signaturefd LLC now owns 2,471 shares of the software company’s stock valued at $602,000 after purchasing an additional 247 shares in the last quarter. PDS Planning Inc purchased a new stake in shares of Autodesk in the fourth quarter valued at about $210,000. Larson Financial Group LLC raised its position in shares of Autodesk by 14.7% in the fourth quarter. Larson Financial Group LLC now owns 1,619 shares of the software company’s stock valued at $394,000 after buying an additional 208 shares during the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Autodesk by 5.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 3,090 shares of the software company’s stock valued at $752,000 after buying an additional 151 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Autodesk in the fourth quarter valued at approximately $388,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADSK. Piper Sandler reissued a “neutral” rating and issued a $239.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. BMO Capital Markets reduced their price objective on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 12th. Barclays reduced their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. StockNews.com cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Finally, Stifel Nicolaus dropped their target price on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $265.05.

Insider Activity

In related news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,931 shares of company stock worth $9,537,781. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Stock Performance

Shares of ADSK traded up $5.35 during midday trading on Friday, reaching $255.26. The stock had a trading volume of 1,413,872 shares, compared to its average volume of 1,649,903. The firm has a 50 day simple moving average of $244.57 and a 200-day simple moving average of $239.40. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The firm has a market cap of $55.01 billion, a PE ratio of 55.25, a P/E/G ratio of 3.23 and a beta of 1.48. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the company posted $1.55 EPS. Autodesk’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.55 EPS for the current year.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.