Autodesk, Inc. (NASDAQ:ADSK) COO Sells $4,682,880.00 in Stock

Autodesk, Inc. (NASDAQ:ADSK) COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $251.77 on Friday. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The firm’s 50-day simple moving average is $247.07 and its 200 day simple moving average is $239.27. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The stock has a market cap of $54.26 billion, a P/E ratio of 54.50, a P/E/G ratio of 3.45 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. Autodesk’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. Equities analysts expect that Autodesk, Inc. will post 5.55 EPS for the current year.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research reports. Bank of America lifted their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Mizuho lifted their price objective on shares of Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $242.00 to $299.00 in a report on Tuesday. Citigroup lifted their price objective on shares of Autodesk from $316.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Piper Sandler lifted their price objective on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.17.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock worth $5,052,732,000 after acquiring an additional 363,565 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Autodesk by 263.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after acquiring an additional 4,563,668 shares during the period. Ninety One UK Ltd increased its stake in Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares in the last quarter. FIL Ltd increased its stake in Autodesk by 19.6% in the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after purchasing an additional 479,559 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in Autodesk by 12.9% in the 4th quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock worth $696,342,000 after purchasing an additional 327,144 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

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.