Champlain Investment Partners LLC Lowers Position in Autodesk, Inc. (NASDAQ:ADSK)

Champlain Investment Partners LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 2.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 491,415 shares of the software company’s stock after selling 13,405 shares during the period. Champlain Investment Partners LLC’s holdings in Autodesk were worth $135,375,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. CreativeOne Wealth LLC purchased a new stake in shares of Autodesk in the 1st quarter valued at $414,000. EP Wealth Advisors LLC acquired a new stake in Autodesk during the 1st quarter worth approximately $202,000. Axxcess Wealth Management LLC boosted its position in Autodesk by 61.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 2,022 shares of the software company’s stock valued at $527,000 after buying an additional 773 shares during the period. Advisors Asset Management Inc. increased its position in shares of Autodesk by 16.8% during the first quarter. Advisors Asset Management Inc. now owns 12,305 shares of the software company’s stock worth $3,204,000 after acquiring an additional 1,766 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in Autodesk by 20,050.0% in the first quarter. 1832 Asset Management L.P. now owns 2,015 shares of the software company’s stock valued at $525,000 after purchasing an additional 2,005 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Trading Up 1.9 %

NASDAQ ADSK opened at $321.27 on Friday. The firm’s fifty day moving average is $286.44 and its two-hundred day moving average is $254.61. Autodesk, Inc. has a one year low of $195.32 and a one year high of $321.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $69.07 billion, a PE ratio of 65.70, a P/E/G ratio of 3.90 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (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 firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ADSK. Piper Sandler upped their price target on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Robert W. Baird raised their target price on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, November 18th. DA Davidson assumed coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. Berenberg Bank increased their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Finally, Citigroup lifted their price target on Autodesk from $325.00 to $358.00 and gave the stock a “buy” rating in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $309.43.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. This trade represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,280 shares of company stock worth $5,232,213. Corporate insiders own 0.14% of the company’s stock.

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.