Progressive Investment Management Corp Sells 282 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Progressive Investment Management Corp lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,813 shares of the software company’s stock after selling 282 shares during the period. Autodesk accounts for about 1.8% of Progressive Investment Management Corp’s portfolio, making the stock its 24th largest position. Progressive Investment Management Corp’s holdings in Autodesk were worth $6,285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADSK. Acadian Asset Management LLC increased its position in Autodesk by 351.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock valued at $775,000 after acquiring an additional 2,820 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Autodesk by 71.7% in the first quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock valued at $960,000 after purchasing an additional 1,871 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Autodesk by 3.6% in the first quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock valued at $1,006,000 after purchasing an additional 164 shares in the last quarter. Moors & Cabot Inc. bought a new position in Autodesk in the 1st quarter worth approximately $218,000. Finally, Dakota Wealth Management lifted its holdings in Autodesk by 18.0% during the 1st quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after buying an additional 292 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $240.28, for a total value of $132,154.00. Following the completion of the transaction, the director now owns 41,816 shares of the company’s stock, valued at approximately $10,047,548.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The disclosure for this sale can be found here. Insiders sold 46,770 shares of company stock worth $12,065,385 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of ADSK opened at $244.74 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. Autodesk, Inc. has a twelve month low of $188.38 and a twelve month high of $279.53. The stock has a market capitalization of $52.35 billion, a P/E ratio of 58.13, a P/E/G ratio of 3.37 and a beta of 1.43. The company has a 50 day moving average of $257.09 and a 200-day moving average of $233.38.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ADSK shares. Piper Sandler Companies lifted their target price on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Piper Sandler boosted their price objective on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Oppenheimer upped their target price on shares of Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Rosenblatt Securities lifted their price target on shares of Autodesk from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.44.

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.