Stoneridge Investment Partners LLC Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Stoneridge Investment Partners LLC trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 30.4% during the third quarter, Holdings Channel reports. The institutional investor owned 9,075 shares of the software company’s stock after selling 3,955 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Autodesk were worth $2,500,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after purchasing an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Autodesk by 263.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd increased its holdings in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares during the last quarter. Legal & General Group Plc raised its stake in Autodesk by 4.0% in the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock valued at $523,940,000 after buying an additional 81,314 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Autodesk by 4.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,717,367 shares of the software company’s stock worth $491,673,000 after buying an additional 74,394 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $287.62 on Tuesday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $294.13. The company has a 50-day moving average price of $272.41 and a 200 day moving average price of $246.11. The company has a market cap of $61.84 billion, a P/E ratio of 58.82, a PEG ratio of 3.60 and a beta of 1.47. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. Research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the sale, the director now owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the sale, the director now owns 30,799 shares of the company’s stock, valued at $8,787,262.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,200,929 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ADSK shares. Citigroup set a $325.00 price objective on Autodesk and gave the company a “buy” rating in a report on Friday, October 18th. Oppenheimer lifted their price target on shares of Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. DA Davidson began coverage on shares of Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Mizuho set a $260.00 target price on Autodesk in a research report on Friday, October 18th. Finally, Piper Sandler upped their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $292.95.

Autodesk Company Profile

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.