DnB Asset Management AS Sells 2,667 Shares of Autodesk, Inc. (NASDAQ:ADSK)

DnB Asset Management AS lessened its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,414 shares of the software company’s stock after selling 2,667 shares during the period. DnB Asset Management AS owned approximately 0.07% of Autodesk worth $31,390,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. HHM Wealth Advisors LLC raised its position in shares of Autodesk by 495.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 125 shares of the software company’s stock worth $26,000 after purchasing an additional 104 shares during the last quarter. Elequin Securities LLC purchased a new position in Autodesk in the fourth quarter worth about $26,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Autodesk by 200.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 150 shares of the software company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. First Manhattan Co. grew its holdings in shares of Autodesk by 342.9% during the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after buying an additional 120 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC increased its position in shares of Autodesk by 140.6% during the first quarter. Carolinas Wealth Consulting LLC now owns 166 shares of the software company’s stock valued at $35,000 after acquiring an additional 97 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Autodesk news, Director Betsy Rafael sold 309 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $203.00, for a total value of $62,727.00. Following the sale, the director now owns 4,781 shares in the company, valued at approximately $970,543. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Andrew Anagnost sold 22,318 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $221.90, for a total value of $4,952,364.20. Following the completion of the transaction, the chief executive officer now directly owns 99,327 shares of the company’s stock, valued at $22,040,661.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Betsy Rafael sold 309 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $203.00, for a total transaction of $62,727.00. Following the completion of the sale, the director now owns 4,781 shares in the company, valued at approximately $970,543. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,707 shares of company stock worth $6,139,461. 0.14% of the stock is owned by insiders.

Autodesk Price Performance

Shares of Autodesk stock traded up $2.88 during trading hours on Thursday, hitting $215.14. The company’s stock had a trading volume of 329,893 shares, compared to its average volume of 1,420,994. The company has a market cap of $45.99 billion, a PE ratio of 52.54, a PEG ratio of 2.99 and a beta of 1.49. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.72 and a current ratio of 0.73. The business has a 50 day moving average price of $210.92 and a two-hundred day moving average price of $204.08. Autodesk, Inc. has a 12-month low of $179.61 and a 12-month high of $233.69.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Wednesday, August 23rd. The software company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.18. Autodesk had a return on equity of 90.61% and a net margin of 16.77%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm earned $1.04 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Autodesk, Inc. will post 4.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their price objective on Autodesk from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. TheStreet downgraded Autodesk from a “b-” rating to a “c+” rating in a report on Tuesday, August 15th. Citigroup reiterated a “buy” rating and issued a $261.00 price objective (down from $277.00) on shares of Autodesk in a report on Thursday, August 24th. Rosenblatt Securities raised their price objective on shares of Autodesk from $235.00 to $253.00 in a report on Thursday, August 24th. Finally, Barclays upped their target price on shares of Autodesk from $225.00 to $233.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $236.28.

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.