Steven M. Blum Sells 17,344 Shares of Autodesk, Inc. (NASDAQ:ADSK) Stock

Autodesk, Inc. (NASDAQ:ADSK) COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Autodesk Stock Performance

ADSK stock opened at $255.79 on Thursday. The stock has a market capitalization of $55.13 billion, a PE ratio of 55.37, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48. The stock’s 50 day simple moving average is $246.91 and its 200 day simple moving average is $239.18. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm posted $1.12 earnings per share. Autodesk’s revenue was up 11.9% compared to the same quarter last year. As a group, research analysts forecast that Autodesk, Inc. will post 5.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Stifel Nicolaus increased their target price on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Oppenheimer raised their target price on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Royal Bank of Canada upped their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Mizuho raised their price objective on Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.17.

Institutional Trading of Autodesk

A number of large investors have recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. purchased a new stake in Autodesk in the fourth quarter worth approximately $25,000. Concord Wealth Partners bought a new position in shares of Autodesk during the 1st quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk in the 1st quarter worth $25,000. LRI Investments LLC bought a new stake in shares of Autodesk in the first quarter worth $26,000. Finally, Olistico Wealth LLC purchased a new stake in Autodesk during the second quarter valued at $26,000. 90.24% of the stock is currently owned by institutional investors.

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.