Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,005 shares of the software company’s stock after selling 354 shares during the period. Autodesk makes up approximately 0.2% of Elite Wealth Management Inc.’s holdings, making the stock its 19th largest holding. Elite Wealth Management Inc.’s holdings in Autodesk were worth $2,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Acadian Asset Management LLC raised its holdings in shares of Autodesk by 351.2% in the first quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock valued at $775,000 after buying an additional 2,820 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Autodesk by 71.7% during the 1st quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock worth $960,000 after acquiring an additional 1,871 shares during the period. Cetera Investment Advisers grew its stake in shares of Autodesk by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock valued at $1,006,000 after purchasing an additional 164 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Autodesk in the first quarter valued at approximately $218,000. Finally, Dakota Wealth Management raised its stake in shares of Autodesk by 18.0% during the first quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADSK. Mizuho lifted their price objective on shares of Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Autodesk in a report on Monday, April 1st. Piper Sandler increased their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Rosenblatt Securities lifted their price objective on Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Piper Sandler Companies boosted their target price on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.44.

Autodesk Price Performance

ADSK stock traded down $11.13 during midday trading on Wednesday, hitting $217.11. 3,651,599 shares of the stock were exchanged, compared to its average volume of 1,337,025. The stock’s 50-day moving average price is $254.75 and its 200-day moving average price is $235.23. The stock has a market cap of $46.44 billion, a price-to-earnings ratio of 54.21, a PEG ratio of 3.16 and a beta of 1.43. Autodesk, Inc. has a fifty-two week low of $188.38 and a fifty-two week 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.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. Autodesk’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. Research analysts predict that Autodesk, Inc. will post 5.38 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Stacy J. Smith sold 7,554 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $244.00, for a total value of $1,843,176.00. Following the completion of the transaction, the director now directly owns 19,934 shares of the company’s stock, valued at $4,863,896. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,220 shares of company stock valued at $11,933,231. 0.14% of the stock is owned by insiders.

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.