Cibc World Markets Corp Sells 10,755 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Cibc World Markets Corp reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 22.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,314 shares of the software company’s stock after selling 10,755 shares during the quarter. Cibc World Markets Corp’s holdings in Autodesk were worth $10,600,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Eagle Bay Advisors LLC acquired a new position in shares of Autodesk during the second quarter valued at about $27,000. Evoke Wealth LLC lifted its holdings in shares of Autodesk by 84.6% during the first quarter. Evoke Wealth LLC now owns 192 shares of the software company’s stock worth $53,000 after purchasing an additional 88 shares during the period. Burleson & Company LLC acquired a new stake in Autodesk during the 1st quarter valued at approximately $65,000. Optimum Investment Advisors boosted its holdings in Autodesk by 600.0% in the second quarter. Optimum Investment Advisors now owns 280 shares of the software company’s stock valued at $82,000 after purchasing an additional 240 shares during the last quarter. Finally, Ameritas Investment Company LLC acquired a new stake in Autodesk during the first quarter worth about $80,000. 85.14% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ ADSK opened at $279.35 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. The stock has a market cap of $61.42 billion, a price-to-earnings ratio of 47.27, a price-to-earnings-growth ratio of 2.81 and a beta of 1.32. Autodesk, Inc. has a fifty-two week low of $215.83 and a fifty-two week high of $344.39. The business has a fifty day moving average of $310.62 and a 200-day moving average of $291.84.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, August 24th. The software company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Autodesk had a net margin of 32.54% and a return on equity of 69.10%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, analysts anticipate that Autodesk, Inc. will post 2.89 EPS for the current year.

In other news, CEO Andrew Anagnost sold 23,957 shares of the company’s stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $315.44, for a total transaction of $7,556,996.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Deborah Clifford sold 5,481 shares of the business’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $289.81, for a total value of $1,588,448.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,134 shares of company stock worth $9,917,059. Corporate insiders own 0.11% of the company’s stock.

ADSK has been the subject of several research analyst reports. Royal Bank of Canada upped their target price on Autodesk from $340.00 to $363.00 and gave the stock an “outperform” rating in a research note on Monday, August 23rd. Canaccord Genuity raised their target price on Autodesk from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, August 26th. Rosenblatt Securities increased their price target on Autodesk from $320.00 to $355.00 and gave the stock a “buy” rating in a report on Tuesday, August 24th. Mizuho reaffirmed a “buy” rating and issued a $350.00 price objective (down from $370.00) on shares of Autodesk in a research note on Thursday, September 2nd. Finally, Guggenheim reiterated a “hold” rating on shares of Autodesk in a report on Monday, September 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $330.11.

Autodesk Profile

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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