Douglas Lane & Associates LLC Has $34.22 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Douglas Lane & Associates LLC cut its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 115,784 shares of the software company’s stock after selling 9,971 shares during the quarter. Douglas Lane & Associates LLC owned about 0.05% of Autodesk worth $34,222,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp increased its holdings in Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC raised its position in shares of Autodesk by 0.8% in the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after acquiring an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Autodesk by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after purchasing an additional 61,785 shares during the period. Principal Financial Group Inc. raised its holdings in Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Autodesk by 4.0% during the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after purchasing an additional 81,314 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Piper Sandler upgraded shares of 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. DA Davidson started coverage on shares of Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price for the company. Stifel Nicolaus lifted their price target on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.05.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded up $4.97 on Wednesday, hitting $295.79. The company had a trading volume of 632,335 shares, compared to its average volume of 1,003,569. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The stock has a market cap of $63.59 billion, a price-to-earnings ratio of 58.69, a P/E/G ratio of 3.62 and a beta of 1.42. The stock has a 50 day moving average price of $301.04 and a 200 day moving average price of $273.21. 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 announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company earned $1.33 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts expect that Autodesk, Inc. will post 5.76 EPS for the current year.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s 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 owns 30,249 shares of the company’s stock, valued at $9,227,759.94. The trade was 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 available through this link. 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.