Sky Investment Group LLC Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

Sky Investment Group LLC trimmed its position in Autodesk, Inc. (NASDAQ:ADSK) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,296 shares of the software company’s stock after selling 112 shares during the quarter. Sky Investment Group LLC’s holdings in Autodesk were worth $2,452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Jag Capital Management LLC bought a new stake in Autodesk in the 3rd quarter worth $13,861,000. LMR Partners LLP purchased a new position in Autodesk during the 3rd quarter valued at about $12,643,000. Starboard Value LP bought a new position in Autodesk during the 3rd quarter valued at approximately $510,189,000. Erste Asset Management GmbH bought a new position in Autodesk during the 3rd quarter valued at approximately $20,087,000. Finally, Brookstone Capital Management lifted its holdings in Autodesk by 1,058.9% in the 4th quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after buying an additional 26,768 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Autodesk Trading Up 0.5 %

Shares of NASDAQ ADSK opened at $291.45 on Tuesday. The company has a market cap of $62.66 billion, a PE ratio of 57.83, a P/E/G ratio of 3.36 and a beta of 1.42. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average price is $300.44 and its 200-day moving average price is $275.79. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the company earned $1.33 EPS. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Scotiabank began coverage on Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price for the company. Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Stifel Nicolaus raised their target price on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research report on Friday, November 29th. Finally, Macquarie initiated coverage on shares of Autodesk in a report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.05.

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.