Meeder Advisory Services Inc. Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Meeder Advisory Services Inc. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,890 shares of the software company’s stock after selling 56 shares during the period. Meeder Advisory Services Inc.’s holdings in Autodesk were worth $704,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Autodesk by 86.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock valued at $1,959,000 after purchasing an additional 4,381 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Autodesk during the third quarter valued at $330,000. Carnegie Capital Asset Management LLC lifted its holdings in shares of Autodesk by 60.5% during the third quarter. Carnegie Capital Asset Management LLC now owns 19,776 shares of the software company’s stock valued at $4,092,000 after purchasing an additional 7,451 shares in the last quarter. Columbia Trust Co 01012016 lifted its holdings in shares of Autodesk by 13.1% during the fourth quarter. Columbia Trust Co 01012016 now owns 4,355 shares of the software company’s stock valued at $1,060,000 after purchasing an additional 503 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Autodesk by 4,112.0% during the third quarter. Los Angeles Capital Management LLC now owns 446,047 shares of the software company’s stock valued at $92,292,000 after purchasing an additional 435,457 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

NASDAQ ADSK opened at $245.89 on Tuesday. The stock has a market capitalization of $52.60 billion, a PE ratio of 58.41, a P/E/G ratio of 3.36 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. The business has a 50 day simple moving average of $256.86 and a two-hundred day simple moving average of $233.86. Autodesk, Inc. has a 1-year low of $188.38 and a 1-year high of $279.53.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Autodesk from $180.00 to $230.00 and gave the company a “sell” rating in a report on Friday, March 1st. Citigroup increased their target price on Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a report on Monday, February 26th. Bank Of America (Bofa) increased their target price on Autodesk from $235.00 to $240.00 in a report on Monday, December 11th. BMO Capital Markets raised their price objective on Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. Finally, Piper Sandler Companies raised their price objective on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.44.

Insider Buying and Selling

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

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.