Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,059 shares of the software company’s stock after selling 557 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Autodesk were worth $1,838,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Manchester Capital Management LLC raised its position in shares of Autodesk by 12.2% in the fourth quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock worth $378,000 after buying an additional 169 shares in the last quarter. TD Asset Management Inc raised its position in shares of Autodesk by 153.0% in the fourth quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock worth $93,589,000 after buying an additional 232,441 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Autodesk by 58.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock worth $4,297,000 after buying an additional 6,481 shares in the last quarter. abrdn plc raised its position in shares of Autodesk by 26.2% in the fourth quarter. abrdn plc now owns 460,759 shares of the software company’s stock worth $112,186,000 after buying an additional 95,723 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Autodesk by 12.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock worth $17,991,000 after buying an additional 8,456 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling

In related news, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $235.00, for a total transaction of $129,250.00. Following the completion of the sale, the director now directly owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The disclosure for this sale can be found here. Insiders sold a total of 39,381 shares of company stock worth $9,401,282 in the last three months. Insiders own 0.14% of the company’s stock.

Autodesk Stock Down 0.6 %

Shares of ADSK stock traded down $1.37 during trading hours on Friday, hitting $240.86. 1,267,132 shares of the company’s stock traded hands, compared to its average volume of 1,220,368. The stock’s fifty day simple moving average is $233.25 and its two-hundred day simple moving average is $240.20. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The stock has a market cap of $51.91 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 3.22 and a beta of 1.48. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the business earned $1.55 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. On average, analysts expect that Autodesk, Inc. will post 5.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $290.00 price target on shares of Autodesk in a research report on Wednesday, June 12th. Stifel Nicolaus lowered their price target on Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. BMO Capital Markets lowered their price target on Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research report on Wednesday, June 12th. KeyCorp lowered their price target on Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Finally, Oppenheimer restated an “outperform” rating and set a $275.00 price target on shares of Autodesk in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $262.42.

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.