Exchange Traded Concepts LLC Trims Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Exchange Traded Concepts LLC reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 12.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 85,500 shares of the software company’s stock after selling 12,109 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Autodesk were worth $25,271,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jag Capital Management LLC acquired a new stake in Autodesk in the 3rd quarter worth about $13,861,000. LMR Partners LLP acquired a new stake in shares of Autodesk in the third quarter worth approximately $12,643,000. Starboard Value LP purchased a new stake in Autodesk in the third quarter valued at approximately $510,189,000. Erste Asset Management GmbH acquired a new position in Autodesk during the third quarter worth approximately $20,087,000. Finally, Brookstone Capital Management raised its stake in Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after purchasing an additional 26,768 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

Autodesk Stock Performance

Autodesk stock opened at $301.41 on Friday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $64.80 billion, a P/E ratio of 59.80, a price-to-earnings-growth ratio of 3.55 and a beta of 1.42. The stock has a 50 day moving average of $299.50 and a 200-day moving average of $276.63.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 EPS. On average, analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Analysts Set New Price Targets

ADSK has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Mizuho raised their price objective on Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Barclays boosted their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Oppenheimer raised their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Morgan Stanley boosted their price objective on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.05.

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.