Neuberger Berman Group LLC Cuts Position in Autodesk, Inc. (NASDAQ:ADSK)

Neuberger Berman Group LLC lessened its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,005 shares of the software company’s stock after selling 3,759 shares during the quarter. Neuberger Berman Group LLC owned about 0.05% of Autodesk worth $28,799,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cheviot Value Management LLC purchased a new position in Autodesk during the 1st quarter valued at approximately $27,000. SouthState Corp grew its holdings in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company’s stock valued at $25,000 after buying an additional 80 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Autodesk during the 4th quarter valued at approximately $29,000. Costello Asset Management INC purchased a new position in Autodesk during the 1st quarter valued at approximately $26,000. Finally, Close Asset Management Ltd bought a new stake in shares of Autodesk in the 1st quarter valued at approximately $27,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the transaction, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 9,391 shares of company stock valued at $2,909,885 in the last 90 days. 0.15% of the stock is owned by insiders.

Autodesk Price Performance

Shares of ADSK stock opened at $287.01 on Thursday. The stock’s 50-day moving average is $299.47 and its 200 day moving average is $286.18. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $61.42 billion, a P/E ratio of 61.46, a PEG ratio of 2.72 and a beta of 1.46.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADSK shares. KeyCorp reaffirmed an “overweight” rating and issued a $350.00 price objective (up from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Citigroup raised their price target on Autodesk from $374.00 to $376.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Barclays raised their price target on Autodesk from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Morgan Stanley reissued an “overweight” rating and set a $370.00 price target (up from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Loop Capital initiated coverage on Autodesk in a research note on Monday, July 21st. They set a “hold” rating and a $320.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $342.61.

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.