State of Alaska Department of Revenue Sells 17,018 Shares of Autodesk, Inc. (NASDAQ:ADSK)

State of Alaska Department of Revenue reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSKGet Rating) by 35.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,235 shares of the software company’s stock after selling 17,018 shares during the quarter. State of Alaska Department of Revenue’s holdings in Autodesk were worth $5,371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. Zions Bancorporation N.A. boosted its stake in Autodesk by 8.7% during the first quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock worth $136,000 after buying an additional 51 shares during the period. Highland Capital Management LLC lifted its position in shares of Autodesk by 0.6% during the first quarter. Highland Capital Management LLC now owns 8,105 shares of the software company’s stock worth $1,737,000 after purchasing an additional 52 shares during the last quarter. Cozad Asset Management Inc. lifted its position in shares of Autodesk by 6.0% during the first quarter. Cozad Asset Management Inc. now owns 970 shares of the software company’s stock worth $208,000 after purchasing an additional 55 shares during the last quarter. Shorepoint Capital Partners LLC lifted its position in shares of Autodesk by 2.1% during the fourth quarter. Shorepoint Capital Partners LLC now owns 2,935 shares of the software company’s stock worth $825,000 after purchasing an additional 59 shares during the last quarter. Finally, Northeast Financial Consultants Inc lifted its position in shares of Autodesk by 1.4% during the first quarter. Northeast Financial Consultants Inc now owns 4,305 shares of the software company’s stock worth $923,000 after purchasing an additional 61 shares during the last quarter. 86.44% of the stock is currently owned by institutional investors.

Autodesk Trading Down 1.0 %

Shares of ADSK stock opened at $194.97 on Wednesday. The company has a debt-to-equity ratio of 3.08, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $42.09 billion, a price-to-earnings ratio of 77.06, a PEG ratio of 2.40 and a beta of 1.53. The stock has a 50 day simple moving average of $207.33 and a 200-day simple moving average of $198.99. Autodesk, Inc. has a 1-year low of $163.20 and a 1-year high of $335.48.

Autodesk (NASDAQ:ADSKGet Rating) last announced its earnings results on Wednesday, August 24th. The software company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.08. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Autodesk had a return on equity of 88.57% and a net margin of 11.76%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. On average, equities research analysts expect that Autodesk, Inc. will post 4.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Rosenblatt Securities decreased their target price on Autodesk from $285.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, August 25th. Morgan Stanley decreased their target price on Autodesk from $258.00 to $245.00 and set an “equal weight” rating for the company in a research report on Friday, May 27th. Royal Bank of Canada lifted their target price on Autodesk from $255.00 to $257.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Citigroup lifted their target price on Autodesk from $258.00 to $277.00 in a research report on Thursday, August 25th. Finally, The Goldman Sachs Group decreased their price objective on Autodesk from $210.00 to $185.00 and set a “sell” rating for the company in a report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $262.60.

Insider Transactions at Autodesk

In other news, CAO Stephen W. Hope sold 327 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $177.43, for a total transaction of $58,019.61. Following the completion of the transaction, the chief accounting officer now directly owns 4,186 shares of the company’s stock, valued at approximately $742,721.98. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Andrew Anagnost sold 34,366 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the completion of the transaction, the chief executive officer now directly owns 76,968 shares of the company’s stock, valued at approximately $15,922,370.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 327 shares of the stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $177.43, for a total value of $58,019.61. Following the completion of the transaction, the chief accounting officer now directly owns 4,186 shares of the company’s stock, valued at $742,721.98. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

Further Reading

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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