MainStreet Investment Advisors LLC Sells 319 Shares of Autodesk, Inc. (NASDAQ:ADSK)

MainStreet Investment Advisors LLC cut its position in Autodesk, Inc. (NASDAQ:ADSK) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,713 shares of the software company’s stock after selling 319 shares during the period. MainStreet Investment Advisors LLC’s holdings in Autodesk were worth $1,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Autodesk by 263.6% in the 1st 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 purchasing an additional 4,563,668 shares during the period. Norges Bank acquired a new position in shares of Autodesk in the fourth quarter valued at approximately $619,404,000. Ninety One UK Ltd boosted its holdings in shares of 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 period. Van ECK Associates Corp increased its position in shares of Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after acquiring an additional 825,165 shares in the last quarter. Finally, FIL Ltd raised its holdings 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 acquiring an additional 479,559 shares during the period. 90.24% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the transaction, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $235.00, for a total transaction of $129,250.00. Following the transaction, the director now owns 31,566 shares in the company, valued at approximately $7,418,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders have sold 57,275 shares of company stock valued at $14,220,661 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

Autodesk Price Performance

NASDAQ:ADSK opened at $250.37 on Friday. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The firm has a market capitalization of $53.96 billion, a price-to-earnings ratio of 54.19, a P/E/G ratio of 3.45 and a beta of 1.48. The stock’s 50 day moving average price is $247.13 and its two-hundred day moving average price is $239.10. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.12 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts anticipate that Autodesk, Inc. will post 5.55 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ADSK shares. Morgan Stanley upped their target price on shares of Autodesk from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and increased their price objective for the stock from $242.00 to $299.00 in a report on Tuesday, September 3rd. Robert W. Baird cut their target price on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 29th. Finally, Royal Bank of Canada raised their price target on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

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.