Harvey Capital Management Inc. Sells 927 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Harvey Capital Management Inc. trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,784 shares of the software company’s stock after selling 927 shares during the period. Autodesk makes up 1.5% of Harvey Capital Management Inc.’s portfolio, making the stock its 22nd biggest holding. Harvey Capital Management Inc.’s holdings in Autodesk were worth $6,001,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Financial Group LLC grew its holdings in Autodesk by 0.8% in the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after buying an additional 35 shares during the last quarter. Avitas Wealth Management LLC grew its stake in shares of 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 last quarter. Mesirow Financial Investment Management Inc. increased its position in Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after acquiring an additional 44 shares during the period. Johnson Investment Counsel Inc. raised its stake in Autodesk by 5.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares during the last quarter. Finally, First Affirmative Financial Network boosted its holdings in Autodesk by 2.6% in the 3rd quarter. First Affirmative Financial Network now owns 1,873 shares of the software company’s stock valued at $516,000 after purchasing an additional 47 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADSK. Citigroup set a $325.00 price objective on shares of Autodesk and gave the stock a “buy” rating in a report on Friday, October 18th. Oppenheimer boosted their price target on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Mizuho set a $260.00 price objective on Autodesk in a research report on Friday, October 18th. BMO Capital Markets upped their target price on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. Finally, Piper Sandler boosted their price target on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average target price of $292.95.

Autodesk Price Performance

ADSK traded up $2.77 during midday trading on Friday, hitting $286.57. The company had a trading volume of 1,047,852 shares, compared to its average volume of 1,585,040. Autodesk, Inc. has a twelve month low of $192.01 and a twelve month high of $294.13. The company has a market capitalization of $61.61 billion, a PE ratio of 58.60, a P/E/G ratio of 3.67 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s 50-day simple moving average is $271.79 and its 200-day simple moving average is $245.35.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $1.12 earnings per share. Autodesk’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts predict that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the transaction, the director now owns 30,799 shares in the company, valued at $8,787,262.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the transaction, the director now directly owns 30,799 shares in the company, valued at approximately $8,787,262.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock worth $5,200,929 over the last 90 days. 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.