Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 12.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,960 shares of the software company’s stock after selling 5,008 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Autodesk were worth $9,906,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Olistico Wealth LLC acquired a new stake in shares of Autodesk during the second quarter valued at about $26,000. Pacifica Partners Inc. grew its holdings in shares of Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Autodesk in the third quarter valued at approximately $27,000. Concord Wealth Partners acquired a new position in shares of Autodesk in the third quarter valued at approximately $28,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Autodesk in the third quarter valued at approximately $28,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of research reports. Piper Sandler lifted their price objective on shares of Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Oppenheimer lifted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. KeyCorp lifted their price objective on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Berenberg Bank lifted their price target on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.10.

Autodesk Trading Up 0.4 %

Shares of Autodesk stock opened at $291.90 on Monday. The company has a fifty day simple moving average of $289.93 and a 200-day simple moving average of $258.15. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. The stock has a market cap of $62.76 billion, a price-to-earnings ratio of 57.92, a PEG ratio of 3.73 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business posted $1.33 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Autodesk, Inc. will post 5.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction 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 in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,936 shares of company stock worth $549,333 in the last 90 days. Company insiders own 0.14% of the company’s stock.

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.