DNB Asset Management AS Sells 22,300 Shares of Autodesk, Inc. (NASDAQ:ADSK)

DNB Asset Management AS trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 178,481 shares of the software company’s stock after selling 22,300 shares during the period. DNB Asset Management AS’s holdings in Autodesk were worth $33,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Telemus Capital LLC lifted its stake in shares of Autodesk by 5.3% in the fourth quarter. Telemus Capital LLC now owns 6,477 shares of the software company’s stock valued at $1,212,000 after buying an additional 326 shares in the last quarter. Triangle Securities Wealth Management lifted its stake in shares of Autodesk by 51.9% in the fourth quarter. Triangle Securities Wealth Management now owns 3,950 shares of the software company’s stock valued at $738,000 after buying an additional 1,350 shares in the last quarter. Accurate Wealth Management LLC bought a new position in shares of Autodesk in the fourth quarter valued at $458,000. MCIA Inc lifted its stake in shares of Autodesk by 23.6% in the fourth quarter. MCIA Inc now owns 10,191 shares of the software company’s stock valued at $1,971,000 after buying an additional 1,943 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in shares of Autodesk in the fourth quarter valued at $578,000. 87.89% of the stock is owned by institutional investors.

Insider Activity

In other Autodesk news, Director Ayanna Howard sold 410 shares of Autodesk stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $184.49, for a total transaction of $75,640.90. Following the completion of the sale, the director now directly owns 4,600 shares in the company, valued at $848,654. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Autodesk news, Director Ayanna Howard sold 410 shares of Autodesk stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $184.49, for a total transaction of $75,640.90. Following the completion of the sale, the director now directly owns 4,600 shares in the company, valued at $848,654. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Deborah Clifford sold 1,557 shares of Autodesk stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $205.71, for a total transaction of $320,290.47. Following the sale, the chief financial officer now owns 19,609 shares of the company’s stock, valued at $4,033,767.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,717 shares of company stock worth $746,462. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on ADSK shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Autodesk from $255.00 to $225.00 in a report on Wednesday, November 23rd. Stifel Nicolaus raised their price objective on shares of Autodesk from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Argus decreased their price objective on shares of Autodesk from $290.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, March 1st. TheStreet upgraded shares of Autodesk from a “c+” rating to a “b” rating in a report on Thursday, February 23rd. Finally, Credit Suisse Group decreased their price objective on shares of Autodesk from $325.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.40.

Autodesk Price Performance

Shares of ADSK stock traded down $1.48 during trading hours on Friday, reaching $199.11. The stock had a trading volume of 2,216,175 shares, compared to its average volume of 1,653,080. The stock’s fifty day simple moving average is $208.63 and its 200 day simple moving average is $202.37. The company has a current ratio of 0.84, a quick ratio of 0.73 and a debt-to-equity ratio of 1.99. Autodesk, Inc. has a 12 month low of $163.20 and a 12 month high of $235.01. The firm has a market capitalization of $42.76 billion, a PE ratio of 52.67, a PEG ratio of 1.86 and a beta of 1.51.

Autodesk (NASDAQ:ADSK – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. Autodesk had a net margin of 16.44% and a return on equity of 105.43%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business earned $0.98 earnings per share. Autodesk’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that Autodesk, Inc. will post 4.49 EPS for the current year.

Autodesk announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 22nd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the software company to repurchase up to 11.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

About Autodesk

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Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.