Sawgrass Asset Management LLC Cuts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Sawgrass Asset Management LLC lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 3.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 51,441 shares of the software company’s stock after selling 1,652 shares during the quarter. Autodesk accounts for approximately 1.4% of Sawgrass Asset Management LLC’s portfolio, making the stock its 25th biggest position. Sawgrass Asset Management LLC’s holdings in Autodesk were worth $12,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bfsg LLC acquired a new position in shares of Autodesk during the 4th quarter worth about $27,000. Rakuten Securities Inc. purchased a new position in Autodesk in the fourth quarter valued at approximately $28,000. Operose Advisors LLC acquired a new stake in Autodesk during the third quarter worth approximately $35,000. AdvisorNet Financial Inc lifted its position in shares of Autodesk by 67.1% during the 4th quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock worth $35,000 after buying an additional 57 shares during the last quarter. Finally, VisionPoint Advisory Group LLC boosted its holdings in shares of Autodesk by 230.5% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 195 shares of the software company’s stock valued at $40,000 after buying an additional 136 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Trading Down 0.3 %

Shares of Autodesk stock traded down $0.67 during trading hours on Wednesday, reaching $213.95. 1,132,262 shares of the company’s stock were exchanged, compared to its average volume of 1,470,086. The firm has a market capitalization of $46.10 billion, a price-to-earnings ratio of 50.82, a price-to-earnings-growth ratio of 2.96 and a beta of 1.45. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. Autodesk, Inc. has a 52-week low of $190.95 and a 52-week high of $279.53. The company has a fifty day moving average of $241.58 and a 200-day moving average of $235.84.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business earned $1.26 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts forecast that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Rosenblatt Securities increased their price target on Autodesk from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Barclays lifted their price objective on Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Berenberg Bank downgraded Autodesk from a “buy” rating to a “hold” rating and set a $295.00 target price for the company. in a report on Wednesday, May 1st. Oppenheimer increased their price target on shares of Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, KeyCorp increased their target price on shares of Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $274.67.

Insider Buying and Selling

In other news, EVP Rebecca Pearce sold 1,628 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the sale, the executive vice president now owns 13,620 shares in the company, valued at approximately $3,425,974.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total transaction of $145,607.00. Following the transaction, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the sale, the executive vice president now owns 13,620 shares in the company, valued at approximately $3,425,974.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,166 shares of company stock valued at $9,465,055. 0.14% of the stock is currently owned by company insiders.

About Autodesk

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.