STF Management LP Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

STF Management LP reduced its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,156 shares of the software company’s stock after selling 255 shares during the period. STF Management LP’s holdings in Autodesk were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Jag Capital Management LLC purchased a new stake in shares of Autodesk in the 3rd quarter valued at approximately $13,861,000. Cetera Investment Advisers increased its stake in Autodesk by 163.4% during the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after acquiring an additional 38,196 shares during the last quarter. Forsta AP Fonden raised its position in Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after purchasing an additional 3,800 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Autodesk by 32.0% in the 3rd quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after purchasing an additional 3,259 shares during the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Autodesk by 8.2% during the 2nd quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after purchasing an additional 49,500 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ADSK. BMO Capital Markets upped their target price 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. Wells Fargo & Company initiated coverage on shares of Autodesk in a research report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 price objective for the company. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and upped their price target for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $320.00 price objective on shares of Autodesk in a research note on Monday, September 30th. Finally, Stifel Nicolaus raised 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. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.38.

Insider Transactions at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK opened at $315.22 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $317.45. The stock has a market capitalization of $67.77 billion, a PE ratio of 64.46, a PEG ratio of 3.90 and a beta of 1.47. The stock has a 50-day simple moving average of $285.29 and a 200-day simple moving average of $253.88.

Autodesk (NASDAQ:ADSK) last issued its 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. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company earned $1.12 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts predict that Autodesk, Inc. will post 5.73 earnings per share 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.