Summit Trail Advisors LLC Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Summit Trail Advisors LLC trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,887 shares of the software company’s stock after selling 142 shares during the period. Summit Trail Advisors LLC’s holdings in Autodesk were worth $1,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ninety One UK Ltd increased its holdings in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after acquiring an additional 825,165 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after acquiring an additional 662,339 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Autodesk by 58,375.5% during the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after purchasing an additional 566,826 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Autodesk by 394.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after purchasing an additional 452,728 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $319.39 on Tuesday. The stock has a market cap of $68.67 billion, a price-to-earnings ratio of 65.32, a PEG ratio of 4.10 and a beta of 1.47. 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 $326.62. The stock’s 50 day moving average price is $287.47 and its 200 day moving average price is $255.89.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business earned $1.12 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,280 shares of company stock worth $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

ADSK has been the topic of a number of research reports. Barclays increased their target price on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America raised their target price on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Stifel Nicolaus upped their target price on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. Citigroup boosted their price objective on Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a research report on Friday. Finally, Berenberg Bank increased their target price on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $309.43.

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.