NewEdge Wealth LLC Sells 1,140 Shares of Autodesk, Inc. (NASDAQ:ADSK)

NewEdge Wealth LLC reduced its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 17.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,280 shares of the software company’s stock after selling 1,140 shares during the quarter. NewEdge Wealth LLC’s holdings in Autodesk were worth $1,286,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. AdvisorNet Financial Inc increased its position in Autodesk by 67.1% in the fourth quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock worth $35,000 after buying an additional 57 shares during the last quarter. First Manhattan Co. grew its position in shares of Autodesk by 342.9% in the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after purchasing an additional 120 shares in the last quarter. Carolinas Wealth Consulting LLC grew its position in shares of Autodesk by 140.6% in the first quarter. Carolinas Wealth Consulting LLC now owns 166 shares of the software company’s stock valued at $35,000 after purchasing an additional 97 shares in the last quarter. Operose Advisors LLC purchased a new position in shares of Autodesk in the third quarter valued at $35,000. Finally, Anchor Investment Management LLC purchased a new position in shares of Autodesk in the fourth quarter valued at $41,000. 90.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADSK. Stifel Nicolaus reiterated a “buy” rating and issued a $316.00 price target on shares of Autodesk in a research report on Friday. BMO Capital Markets lifted their price target on Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Citigroup lifted their price target 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. Finally, Rosenblatt Securities boosted their target price on Autodesk from $265.00 to $290.00 and gave the stock a “buy” rating in a research report 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $272.44.

Autodesk Trading Down 3.1 %

Shares of ADSK stock opened at $229.62 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. The business has a 50-day moving average price of $255.26 and a two-hundred day moving average price of $235.08. Autodesk, Inc. has a 12-month low of $188.38 and a 12-month high of $279.53. The firm has a market cap of $49.12 billion, a P/E ratio of 54.54, a price-to-earnings-growth ratio of 3.26 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating 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 analyst estimates of $1.43 billion. During the same quarter in the previous year, the company posted $1.26 EPS. Autodesk’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities analysts anticipate that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

Insider Activity

In other 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 value of $5,473,569.47. Following the completion of the sale, 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 filing with the SEC, which is available at this hyperlink. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the company’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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stacy J. Smith sold 7,554 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $244.00, for a total value of $1,843,176.00. Following the transaction, the director now directly owns 19,934 shares of the company’s stock, valued at approximately $4,863,896. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,220 shares of company stock valued at $11,933,231. Insiders own 0.14% of the company’s stock.

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.