Russell Investments Group Ltd. Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Russell Investments Group Ltd. reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,382 shares of the software company’s stock after selling 22,549 shares during the quarter. Russell Investments Group Ltd.’s holdings in Autodesk were worth $93,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ADSK. Bouvel Investment Partners LLC grew its holdings in shares of Autodesk by 0.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock valued at $2,864,000 after purchasing an additional 44 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Autodesk by 3.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock worth $306,000 after buying an additional 45 shares during the last quarter. Goodman Advisory Group LLC lifted its position in Autodesk by 0.4% in the fourth quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock worth $2,770,000 after buying an additional 49 shares during the last quarter. Curbstone Financial Management Corp lifted its position in Autodesk by 0.5% in the fourth quarter. Curbstone Financial Management Corp now owns 9,760 shares of the software company’s stock worth $2,376,000 after buying an additional 50 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC lifted its position in Autodesk by 1.1% in the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 4,714 shares of the software company’s stock worth $1,148,000 after buying an additional 50 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 5,000 shares of Autodesk stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $275.00, for a total value of $1,375,000.00. Following the transaction, the director now owns 33,766 shares in the company, valued at $9,285,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $264.74, for a total transaction of $145,607.00. Following the sale, the director now owns 38,766 shares in the company, valued at $10,262,910.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 5,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $275.00, for a total value of $1,375,000.00. Following the sale, the director now owns 33,766 shares in the company, valued at approximately $9,285,650. The disclosure for this sale can be found here. Insiders have sold 36,166 shares of company stock worth $9,465,055 over the last quarter. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADSK. Piper Sandler raised their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. BMO Capital Markets lifted their target price on Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. Citigroup lifted their target price on Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. The Goldman Sachs Group lifted their target price on Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $316.00 target price on shares of Autodesk in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $272.44.

Autodesk Stock Up 0.7 %

ADSK traded up $1.53 on Friday, hitting $217.93. The company had a trading volume of 1,277,888 shares, compared to its average volume of 1,925,797. The stock has a fifty day moving average price of $247.53 and a 200-day moving average price of $235.47. Autodesk, Inc. has a 12-month low of $188.38 and a 12-month high of $279.53. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. The stock has a market capitalization of $46.62 billion, a price-to-earnings ratio of 51.76, a P/E/G ratio of 3.00 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Analysts predict that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

About Autodesk

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.