Retirement Systems of Alabama Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Retirement Systems of Alabama cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,111 shares of the software company’s stock after selling 1,213 shares during the period. Retirement Systems of Alabama’s holdings in Autodesk were worth $11,471,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ADSK. Valeo Financial Advisors LLC purchased a new position in Autodesk in the third quarter valued at about $224,000. Commonwealth Equity Services LLC increased its holdings in Autodesk by 8.6% in the third quarter. Commonwealth Equity Services LLC now owns 26,477 shares of the software company’s stock valued at $5,478,000 after buying an additional 2,092 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Autodesk by 0.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 57,516 shares of the software company’s stock valued at $11,901,000 after buying an additional 314 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Autodesk by 19.4% in the third quarter. Stratos Wealth Partners LTD. now owns 1,448 shares of the software company’s stock valued at $300,000 after buying an additional 235 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of Autodesk by 2.1% during the 3rd quarter. Independent Advisor Alliance now owns 4,384 shares of the software company’s stock worth $907,000 after purchasing an additional 92 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ADSK shares. StockNews.com cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Berenberg Bank cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective for the company. in a research note on Wednesday. Mizuho raised their price objective on shares of Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of Autodesk in a research note on Monday, April 1st. Finally, Oppenheimer raised their price objective on shares of Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Autodesk has an average rating of “Hold” and an average target price of $274.67.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 5,000 shares of Autodesk stock in a transaction on Friday, March 1st. The shares were sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the transaction, the director now owns 33,766 shares in the company, valued at approximately $9,285,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mary T. Mcdowell sold 5,000 shares of Autodesk stock in a transaction on Friday, March 1st. The shares were sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the sale, the director now owns 33,766 shares of the company’s stock, valued at approximately $9,285,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction 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 sale, the director now directly owns 38,766 shares in the company, valued at approximately $10,262,910.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,166 shares of company stock worth $9,465,055. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Stock Down 1.0 %

Shares of ADSK opened at $210.71 on Thursday. The firm has a market cap of $45.40 billion, a PE ratio of 50.05, a price-to-earnings-growth ratio of 2.98 and a beta of 1.43. The company’s fifty day moving average is $245.02 and its two-hundred day moving average is $235.51. Autodesk, Inc. has a fifty-two week low of $189.54 and a fifty-two week high of $279.53. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23.

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

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.