Strait & Sound Wealth Management LLC Decreases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Strait & Sound Wealth Management LLC lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 28.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,698 shares of the software company’s stock after selling 687 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Autodesk were worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Starboard Value LP purchased a new position in Autodesk in the third quarter valued at approximately $510,189,000. Ninety One UK Ltd grew its stake in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after acquiring an additional 1,108,973 shares during the period. Van ECK Associates Corp increased its holdings in Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after acquiring an additional 825,165 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Autodesk by 366.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after acquiring an additional 662,339 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Autodesk by 58,375.5% in the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after acquiring an additional 566,826 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,936 shares of company stock worth $549,333. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Up 0.3 %

Shares of ADSK opened at $308.55 on Tuesday. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $293.82 and a two-hundred day simple moving average of $261.69. The firm has a market cap of $66.34 billion, a P/E ratio of 61.22, a P/E/G ratio of 3.63 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. On average, analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ADSK shares. Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. KeyCorp increased their target price on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Wells Fargo & Company lifted their price target on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Scotiabank started coverage on Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.68.

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.