DSM Capital Partners LLC Sells 83,574 Shares of Autodesk, Inc. (NASDAQ:ADSK)

DSM Capital Partners LLC cut its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,050,053 shares of the software company’s stock after selling 83,574 shares during the period. Autodesk accounts for 3.5% of DSM Capital Partners LLC’s investment portfolio, making the stock its 12th biggest position. DSM Capital Partners LLC owned approximately 0.49% of Autodesk worth $214,851,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Autodesk in the 4th quarter valued at $426,374,000. Price T Rowe Associates Inc. MD boosted its holdings in Autodesk by 480.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,785,264 shares of the software company’s stock valued at $371,621,000 after purchasing an additional 1,477,770 shares during the period. Portside Wealth Group LLC bought a new position in Autodesk in the 2nd quarter valued at $221,914,000. Bank of Montreal Can bought a new position in Autodesk in the 2nd quarter valued at $135,596,000. Finally, Bank of America Corp DE boosted its holdings in Autodesk by 18.2% in the 1st quarter. Bank of America Corp DE now owns 3,967,076 shares of the software company’s stock valued at $825,786,000 after purchasing an additional 610,230 shares during the period. 87.92% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Rebecca Pearce sold 115 shares of Autodesk stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $220.00, for a total transaction of $25,300.00. Following the sale, the executive vice president now owns 22,857 shares of the company’s stock, valued at approximately $5,028,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Andrew Anagnost sold 22,318 shares of Autodesk stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $221.90, for a total transaction of $4,952,364.20. Following the sale, the chief executive officer now owns 99,327 shares of the company’s stock, valued at approximately $22,040,661.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca Pearce sold 115 shares of Autodesk stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $220.00, for a total transaction of $25,300.00. Following the sale, the executive vice president now directly owns 22,857 shares in the company, valued at approximately $5,028,540. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,917 shares of company stock valued at $6,599,720. Corporate insiders own 0.14% of the company’s stock.

Autodesk Trading Down 0.4 %

Shares of ADSK stock traded down $0.86 during mid-day trading on Tuesday, reaching $218.84. The stock had a trading volume of 285,787 shares, compared to its average volume of 1,362,979. The stock’s 50-day moving average price is $207.50 and its two-hundred day moving average price is $207.22. Autodesk, Inc. has a 52-week low of $179.61 and a 52-week high of $232.15. The firm has a market capitalization of $46.78 billion, a PE ratio of 54.38, a price-to-earnings-growth ratio of 2.92 and a beta of 1.46. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.89.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Wednesday, August 23rd. The software company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.18. Autodesk had a net margin of 16.77% and a return on equity of 90.61%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $1.04 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts expect that Autodesk, Inc. will post 4.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ADSK shares. StockNews.com downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 16th. Barclays lifted their price objective on shares of Autodesk from $225.00 to $233.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. TheStreet downgraded shares of Autodesk from a “b-” rating to a “c+” rating in a report on Tuesday, August 15th. Berenberg Bank dropped their price objective on shares of Autodesk from $230.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, August 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $253.00 price objective on shares of Autodesk in a report on Monday. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.11.

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.