Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Rovin Capital UT ADV

Rovin Capital UT ADV lowered its position in Autodesk, Inc. (NASDAQ:ADSK) by 52.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,352 shares of the software company’s stock after selling 1,488 shares during the period. Rovin Capital UT ADV’s holdings in Autodesk were worth $400,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. grew its position in shares of Autodesk by 1,473.8% in the second quarter. Federated Hermes Inc. now owns 16,163 shares of the software company’s stock valued at $4,000,000 after purchasing an additional 15,136 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in Autodesk in the 2nd quarter valued at approximately $220,000. Dimensional Fund Advisors LP grew its holdings in Autodesk by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,001,485 shares of the software company’s stock valued at $247,802,000 after buying an additional 188,140 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in Autodesk by 81.7% during the second quarter. Citizens Financial Group Inc. RI now owns 1,748 shares of the software company’s stock worth $433,000 after buying an additional 786 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Autodesk in the second quarter worth $1,554,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ADSK shares. Macquarie started coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. UBS Group started coverage on shares of Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 target price on the stock. Stifel Nicolaus boosted their price target on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average price target of $326.05.

Autodesk Stock Up 1.4 %

NASDAQ ADSK opened at $290.94 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The business has a 50 day moving average price of $301.26 and a two-hundred day moving average price of $274.86. The stock has a market cap of $62.55 billion, a PE ratio of 57.73, a P/E/G ratio of 3.62 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, sell-side analysts predict that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Autodesk 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.