Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 882,025 shares of the software company’s stock after selling 10,368 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.41% of Autodesk worth $214,755,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, CEO Andrew Anagnost sold 21,053 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Stacy J. Smith sold 7,554 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $244.00, for a total transaction of $1,843,176.00. Following the completion of the transaction, the director now owns 19,934 shares of the company’s stock, valued at approximately $4,863,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value 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 approximately $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 over the last quarter. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $236.98 on Monday. The business’s 50-day moving average price is $255.73 and its two-hundred day moving average price is $234.92. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. Autodesk, Inc. has a one year low of $188.38 and a one year high of $279.53. The company has a market capitalization of $50.69 billion, a P/E ratio of 56.29, a price-to-earnings-growth ratio of 3.26 and a beta of 1.43.

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

Analyst Upgrades and Downgrades

ADSK has been the topic of several analyst reports. Mizuho raised their target price on Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Citigroup raised their target price on Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Piper Sandler lifted their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Oppenheimer lifted their price target on Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, Rosenblatt Securities lifted their price target on Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a research 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, Autodesk 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.