Grove Bank & Trust Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Grove Bank & Trust reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403 shares of the software company’s stock after selling 65 shares during the quarter. Grove Bank & Trust’s holdings in Autodesk were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Autodesk by 1.9% in the first 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 in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd grew its holdings in shares of 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 purchasing an additional 1,108,973 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of 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 purchasing an additional 81,314 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Autodesk by 100.9% in the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after purchasing an additional 825,165 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Autodesk news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated 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 owns 17,099 shares in the company, valued at $4,616,730. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,730 shares of company stock worth $5,044,008 over the last three months. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADSK has been the subject of a number of recent research reports. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and raised their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Citigroup lifted their price objective on shares of Autodesk from $316.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Piper Sandler lifted their price objective on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Mizuho lifted their price objective on shares of Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, Rosenblatt Securities lifted their price objective on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Autodesk Stock Performance

ADSK stock opened at $285.31 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50-day moving average price of $259.84 and a 200 day moving average price of $241.04. The company has a market capitalization of $61.49 billion, a P/E ratio of 61.76, a PEG ratio of 3.52 and a beta of 1.48. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $286.43.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion during 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 firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Autodesk 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.