Ninety One SA PTY Ltd Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

Ninety One SA PTY Ltd trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,236 shares of the software company’s stock after selling 615 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Autodesk were worth $3,710,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ADSK. Acadian Asset Management LLC increased its position in shares of Autodesk by 351.2% during the first quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock worth $775,000 after acquiring an additional 2,820 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Autodesk by 71.7% during the first quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock worth $960,000 after acquiring an additional 1,871 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Autodesk by 3.6% during the first quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock worth $1,006,000 after acquiring an additional 164 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Autodesk during the first quarter worth about $218,000. Finally, Dakota Wealth Management increased its position in shares of Autodesk by 18.0% during the first quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after acquiring an additional 292 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Autodesk news, CFO Deborah Clifford sold 5,553 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the completion of the transaction, the chief financial officer now directly owns 32,259 shares of the company’s stock, valued at approximately $8,387,662.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. Insiders sold 46,220 shares of company stock valued at $11,933,231 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADSK. Barclays lifted their price target on Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of Autodesk in a research note on Monday, April 1st. Piper Sandler lifted their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $316.00 price target on shares of Autodesk in a research note on Friday, April 12th. Finally, Piper Sandler Companies lifted their target price on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $272.44.

Autodesk Stock Performance

ADSK stock traded down $4.71 on Thursday, reaching $210.21. The company’s stock had a trading volume of 2,982,664 shares, compared to its average volume of 1,397,439. Autodesk, Inc. has a 52 week low of $188.38 and a 52 week high of $279.53. The company has a market capitalization of $44.96 billion, a P/E ratio of 51.05, a price-to-earnings-growth ratio of 3.14 and a beta of 1.43. The firm has a fifty day moving average of $253.88 and a two-hundred day moving average of $235.09. 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 (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts predict that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

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.