Van ECK Associates Corp Sells 9,754 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Van ECK Associates Corp cut its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 13.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,757 shares of the software company’s stock after selling 9,754 shares during the period. Van ECK Associates Corp’s holdings in Autodesk were worth $15,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Autodesk by 0.4% in the third quarter. Vanguard Group Inc. now owns 18,728,596 shares of the software company’s stock valued at $3,875,134,000 after buying an additional 69,039 shares during the period. Clearbridge Investments LLC lifted its position in shares of Autodesk by 1.2% during the 3rd quarter. Clearbridge Investments LLC now owns 3,018,078 shares of the software company’s stock valued at $624,471,000 after acquiring an additional 35,105 shares during the period. Northern Trust Corp boosted its stake in Autodesk by 1.7% during the third quarter. Northern Trust Corp now owns 2,548,156 shares of the software company’s stock worth $527,239,000 after acquiring an additional 43,293 shares in the last quarter. Morgan Stanley grew its holdings in Autodesk by 4.5% in the third quarter. Morgan Stanley now owns 2,378,796 shares of the software company’s stock worth $492,197,000 after purchasing an additional 102,035 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Autodesk by 14.2% in the third quarter. Ameriprise Financial Inc. now owns 2,364,179 shares of the software company’s stock valued at $489,178,000 after purchasing an additional 293,464 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were 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 directly owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Deborah Clifford sold 5,553 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total value of $1,443,835.53. Following the completion of the sale, the chief financial officer now owns 32,259 shares of the company’s stock, valued at approximately $8,387,662.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. Insiders have sold 36,166 shares of company stock worth $9,465,055 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Autodesk stock opened at $210.71 on Thursday. Autodesk, Inc. has a 52 week low of $189.54 and a 52 week high of $279.53. The company’s 50 day moving average price is $245.02 and its two-hundred day moving average price is $235.51. The stock has a market cap of $45.40 billion, a P/E ratio of 50.05, a P/E/G ratio of 2.98 and a beta of 1.43. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 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 for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company posted $1.26 earnings per share. Autodesk’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Autodesk, Inc. will post 5.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler Companies increased their price objective on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Piper Sandler raised their price objective on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. The Goldman Sachs Group upped their target price on Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Oppenheimer increased their target price on Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Finally, Rosenblatt Securities boosted their price target on shares of Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Autodesk presently has a consensus rating of “Hold” and an average price target of $274.67.

Autodesk 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.