Pitcairn Co. Cuts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Pitcairn Co. trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 16.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,029 shares of the software company’s stock after selling 2,874 shares during the period. Pitcairn Co.’s holdings in Autodesk were worth $4,140,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ADSK. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk in the 1st quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in shares of Autodesk in the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk in the 3rd quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Autodesk in the 3rd quarter worth approximately $28,000. Finally, Concord Wealth Partners acquired a new stake in shares of Autodesk in the 3rd quarter worth approximately $28,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. DA Davidson assumed coverage on Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Wells Fargo & Company increased their target price on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer increased their target price on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday. Barclays increased their target price on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Scotiabank assumed coverage on Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.43.

Insider Activity

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Autodesk Trading Up 1.9 %

NASDAQ:ADSK opened at $321.27 on Friday. The business’s 50-day moving average is $286.44 and its two-hundred day moving average is $254.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $321.90. The firm has a market capitalization of $69.07 billion, a PE ratio of 65.70, a price-to-earnings-growth ratio of 4.03 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $1.12 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. Research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

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.