AIA Group Ltd Reduces Holdings in Autodesk, Inc. (NASDAQ:ADSK)

AIA Group Ltd lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 16.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,592 shares of the software company’s stock after selling 702 shares during the period. AIA Group Ltd’s holdings in Autodesk were worth $875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bouvel Investment Partners LLC boosted its stake in Autodesk by 0.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock worth $2,864,000 after buying an additional 44 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Autodesk by 3.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock valued at $306,000 after purchasing an additional 45 shares during the last quarter. Goodman Advisory Group LLC lifted its stake in shares of Autodesk by 0.4% in the 4th quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock valued at $2,770,000 after purchasing an additional 49 shares during the last quarter. Curbstone Financial Management Corp lifted its stake in shares of Autodesk by 0.5% in the 4th quarter. Curbstone Financial Management Corp now owns 9,760 shares of the software company’s stock valued at $2,376,000 after purchasing an additional 50 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in shares of Autodesk by 8.7% in the 1st quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock valued at $136,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ADSK shares. Piper Sandler upped their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. BMO Capital Markets upped their price target on Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. The Goldman Sachs Group upped their price target on Autodesk from $180.00 to $230.00 and gave the company a “sell” rating in a research note on Friday, March 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $316.00 price target on shares of Autodesk in a research note on Friday, April 12th. Finally, Barclays upped their price target on Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $272.44.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $216.50 on Friday. The stock’s 50-day moving average is $251.86 and its two-hundred day moving average is $234.97. 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 1-year low of $188.38 and a 1-year high of $279.53. The company has a market cap of $46.31 billion, a price-to-earnings ratio of 51.43, a price-to-earnings-growth ratio of 2.95 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business earned $1.26 EPS. Autodesk’s revenue was up 11.5% on a year-over-year basis. Analysts forecast that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

Insider Activity

In other news, EVP Rebecca Pearce sold 1,628 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total value of $409,507.12. Following the transaction, the executive vice president now owns 13,620 shares in the company, valued at approximately $3,425,974.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Andrew Anagnost sold 21,053 shares of the 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 owns 105,213 shares in the company, valued at approximately $27,354,327.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the sale, the executive vice president now directly owns 13,620 shares of the company’s stock, valued at $3,425,974.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,666 shares of company stock worth $10,090,055. 0.14% of the stock is currently owned by insiders.

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.