Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Apriem Advisors

Apriem Advisors reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,586 shares of the software company’s stock after selling 2,773 shares during the period. Autodesk accounts for about 1.4% of Apriem Advisors’ portfolio, making the stock its 20th largest holding. Apriem Advisors’ holdings in Autodesk were worth $12,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. J.W. Cole Advisors Inc. raised its stake in Autodesk by 70.9% during the third quarter. J.W. Cole Advisors Inc. now owns 1,521 shares of the software company’s stock worth $419,000 after purchasing an additional 631 shares during the period. Concord Wealth Partners acquired a new stake in shares of Autodesk during the 3rd quarter worth approximately $28,000. China Universal Asset Management Co. Ltd. raised its position in shares of Autodesk by 111.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,734 shares of the software company’s stock valued at $753,000 after buying an additional 1,438 shares during the period. Fidelis Capital Partners LLC lifted its holdings in Autodesk by 4.3% in the third quarter. Fidelis Capital Partners LLC now owns 1,782 shares of the software company’s stock valued at $510,000 after acquiring an additional 73 shares during the last quarter. Finally, Avitas Wealth Management LLC grew its position in Autodesk by 0.8% in the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after acquiring an additional 42 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of ADSK opened at $285.67 on Thursday. The company’s 50 day simple moving average is $297.33 and its 200-day simple moving average is $286.62. The firm has a market cap of $61.42 billion, a PE ratio of 56.68, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. 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 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the firm posted $1.33 EPS. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Autodesk, Inc. will post 5.76 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on ADSK shares. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research report on Tuesday. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. BMO Capital Markets boosted their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Finally, Citigroup increased their price objective on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $334.45.

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.