TD Asset Management Inc Lowers Stake in Autodesk, Inc. (NASDAQ:ADSK)

TD Asset Management Inc decreased its position in Autodesk, Inc. (NASDAQ:ADSK) by 8.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 396,347 shares of the software company’s stock after selling 38,060 shares during the period. TD Asset Management Inc owned 0.18% of Autodesk worth $98,076,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new position in Autodesk in the fourth quarter worth approximately $25,000. Concord Wealth Partners purchased a new position in shares of Autodesk in the 1st quarter valued at $25,000. New Covenant Trust Company N.A. bought a new position in shares of Autodesk in the 1st quarter worth $25,000. LRI Investments LLC bought a new stake in Autodesk during the first quarter valued at about $26,000. Finally, Olistico Wealth LLC bought a new stake in Autodesk during the second quarter valued at about $26,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Trading Down 1.6 %

Shares of Autodesk stock 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 company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $54.26 billion, a P/E ratio of 54.50, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48. The firm has a 50-day simple moving average of $247.07 and a two-hundred day simple moving average of $239.27.

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

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the sale, the director now owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s 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 in the company, valued at approximately $7,418,010. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Insiders sold a total of 57,275 shares of company stock valued at $14,220,661 in the last three months. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Autodesk from $305.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. KeyCorp restated an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and boosted their price target for the company from $225.00 to $295.00 in a research note on Tuesday. Oppenheimer raised their price objective on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Rosenblatt Securities raised their price target on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.17.

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.