Americana Partners LLC Cuts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Americana Partners LLC decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 30.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,591 shares of the software company’s stock after selling 1,108 shares during the quarter. Americana Partners LLC’s holdings in Autodesk were worth $629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADSK. Acadian Asset Management LLC boosted its holdings in Autodesk by 351.2% in the first quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock worth $775,000 after purchasing an additional 2,820 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Autodesk by 71.7% in the first quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock worth $960,000 after purchasing an additional 1,871 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Autodesk by 3.6% in the first quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock worth $1,006,000 after purchasing an additional 164 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in Autodesk in the first quarter worth approximately $218,000. Finally, Dakota Wealth Management raised its position in Autodesk by 18.0% in the first quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after acquiring an additional 292 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The disclosure for this sale can be found here. Insiders sold 46,770 shares of company stock valued at $12,065,385 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADSK. KeyCorp increased their price target on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Citigroup increased their price target on shares of Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Piper Sandler increased their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Oppenheimer increased their price target on shares of Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Piper Sandler Companies increased their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $272.44.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $244.74 on Monday. Autodesk, Inc. has a 52 week low of $188.38 and a 52 week high of $279.53. The stock has a market capitalization of $52.35 billion, a P/E ratio of 58.13, a PEG ratio of 3.36 and a beta of 1.43. The firm has a fifty day simple moving average of $257.09 and a two-hundred day simple moving average of $233.56. 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 (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $1.26 EPS. The business’s revenue was up 11.5% on a year-over-year basis. On average, analysts expect that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

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.