Huntington National Bank Has $1.57 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Huntington National Bank cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 27.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,680 shares of the software company’s stock after selling 2,148 shares during the quarter. Huntington National Bank’s holdings in Autodesk were worth $1,565,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ADSK. Vanguard Group Inc. grew its position in shares of Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after purchasing an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in 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 buying an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd increased its position in Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after buying an additional 245,816 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Autodesk by 4.0% in the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock valued at $523,940,000 after acquiring an additional 81,314 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,280 shares of company stock valued at $5,232,213. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. BMO Capital Markets lifted their price target on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Bank of America increased their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Barclays lifted their price objective on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday. Finally, DA Davidson assumed coverage on Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $296.20.

Autodesk Trading Down 2.4 %

Shares of ADSK stock opened at $299.15 on Friday. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $315.73. The stock’s fifty day simple moving average is $280.34 and its 200 day simple moving average is $250.66. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $64.32 billion, a P/E ratio of 61.18, a P/E/G ratio of 4.00 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. As a group, sell-side analysts predict that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Autodesk Company 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.