Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Cypress Capital Group

Cypress Capital Group trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 7.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,688 shares of the software company’s stock after selling 215 shares during the quarter. Cypress Capital Group’s holdings in Autodesk were worth $665,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADSK. Linden Thomas Advisory Services LLC boosted its holdings 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 acquiring an additional 151 shares during the period. Bfsg LLC purchased a new stake in shares of Autodesk during the fourth quarter worth approximately $27,000. Atria Wealth Solutions Inc. raised its stake in shares of Autodesk by 42.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 5,695 shares of the software company’s stock worth $1,387,000 after purchasing an additional 1,711 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Autodesk by 8.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,676 shares of the software company’s stock worth $1,382,000 after acquiring an additional 460 shares in the last quarter. Finally, Syon Capital LLC purchased a new position in Autodesk in the fourth quarter worth $276,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Berenberg Bank cut Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective for the company. in a research report on Wednesday, May 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $290.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Mizuho dropped their price target on Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday, June 4th. Piper Sandler restated a “neutral” rating and issued a $239.00 price target on shares of Autodesk in a research report on Wednesday, June 12th. Finally, Citigroup raised their price target on Autodesk from $286.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $267.00.

Autodesk Trading Up 0.6 %

Shares of NASDAQ ADSK traded up $1.64 during midday trading on Monday, hitting $256.90. The stock had a trading volume of 185,326 shares, compared to its average volume of 1,640,975. The company has a market capitalization of $55.36 billion, a price-to-earnings ratio of 55.25, a PEG ratio of 3.23 and a beta of 1.48. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53. The company has a fifty day moving average price of $244.57 and a 200 day moving average price of $239.26.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.77 by $0.10. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. On average, analysts predict that Autodesk, Inc. will post 5.55 earnings per share for the current year.

Insider Activity at Autodesk

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

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.