Nisa Investment Advisors LLC Trims Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Nisa Investment Advisors LLC lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,724 shares of the software company’s stock after selling 3,316 shares during the period. Nisa Investment Advisors LLC’s holdings in Autodesk were worth $14,785,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADSK. Norges Bank purchased a new position in Autodesk during the 4th quarter valued at about $426,374,000. Price T Rowe Associates Inc. MD increased its holdings in Autodesk by 480.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,785,264 shares of the software company’s stock valued at $371,621,000 after purchasing an additional 1,477,770 shares during the period. Meritage Group LP purchased a new position in Autodesk during the 3rd quarter valued at about $170,972,000. Los Angeles Capital Management LLC increased its holdings in Autodesk by 4,112.0% during the 3rd 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 during the period. Finally, AustralianSuper Pty Ltd increased its holdings in Autodesk by 24,236.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 410,075 shares of the software company’s stock valued at $84,849,000 after purchasing an additional 408,390 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

ADSK stock opened at $245.89 on Tuesday. The stock has a market capitalization of $52.60 billion, a PE ratio of 58.41, a price-to-earnings-growth ratio of 3.36 and a beta of 1.43. Autodesk, Inc. has a 12-month low of $188.38 and a 12-month high of $279.53. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The stock’s 50 day simple moving average is $256.86 and its 200 day simple moving average is $233.86.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.14. The business had revenue of $1.47 billion for 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 firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. As a group, research analysts forecast that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADSK has been the topic of a number of research analyst reports. Citigroup upped their target price on Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Barclays upped their target price on Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Berenberg Bank upped their target price on Autodesk from $228.50 to $255.00 in a report on Monday, December 11th. Piper Sandler Companies upped their target price on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, Piper Sandler upped their target price on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.44.

Insider Activity

In other news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction on 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 directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $240.28, for a total value of $132,154.00. Following the completion of the sale, the director now directly owns 41,816 shares in the company, valued at approximately $10,047,548.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. Insiders have sold 46,770 shares of company stock valued at $12,065,385 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

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.