Chevy Chase Trust Holdings LLC Lowers Position in Autodesk, Inc. (NASDAQ:ADSK)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 117,315 shares of the software company’s stock after selling 1,661 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Autodesk were worth $29,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ADSK. Price T Rowe Associates Inc. MD increased its holdings in Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares in the last quarter. Norges Bank acquired a new stake in Autodesk in the 4th quarter valued at $619,404,000. Ninety One UK Ltd raised its position in Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after acquiring an additional 1,108,973 shares during the period. Van ECK Associates Corp lifted its holdings in Autodesk by 1,162.9% during the first quarter. Van ECK Associates Corp now owns 817,808 shares of the software company’s stock valued at $212,973,000 after purchasing an additional 753,051 shares in the last quarter. Finally, FIL Ltd increased its stake in shares of Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after purchasing an additional 479,559 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares in the company, valued at approximately $7,916,693.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,931 shares of company stock worth $9,537,781. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADSK shares. Mizuho decreased their target price on Autodesk from $270.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. Stifel Nicolaus dropped their target price on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Robert W. Baird lowered their price target on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Autodesk in a report on Tuesday, June 18th. Finally, Piper Sandler reissued a “neutral” rating and set a $239.00 price objective on shares of Autodesk in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $262.42.

Autodesk Stock Performance

Autodesk stock traded up $2.67 during midday trading on Wednesday, hitting $252.80. 222,314 shares of the company’s stock were exchanged, compared to its average volume of 1,651,493. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The stock has a market cap of $54.48 billion, a price-to-earnings ratio of 54.14, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. The firm’s 50 day simple moving average is $242.87 and its 200 day simple moving average is $239.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.77 by $0.10. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the business earned $1.55 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Autodesk, Inc. will post 5.55 EPS for the current year.

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.