Desjardins Global Asset Management Inc. Sells 80 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Desjardins Global Asset Management Inc. reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 481 shares of the software company’s stock after selling 80 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Autodesk were worth $117,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Autodesk in the fourth quarter worth about $426,374,000. Price T Rowe Associates Inc. MD grew its stake in shares of Autodesk by 480.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,785,264 shares of the software company’s stock worth $371,621,000 after purchasing an additional 1,477,770 shares during the last quarter. Meritage Group LP bought a new stake in shares of Autodesk in the third quarter worth about $170,972,000. Los Angeles Capital Management LLC grew its stake in shares of Autodesk by 4,112.0% in the third quarter. Los Angeles Capital Management LLC now owns 446,047 shares of the software company’s stock worth $92,292,000 after purchasing an additional 435,457 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Autodesk by 48.0% in the fourth quarter. Baillie Gifford & Co. now owns 1,322,121 shares of the software company’s stock worth $321,910,000 after purchasing an additional 429,071 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction 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 completion of the sale, the executive vice president now directly owns 13,620 shares in the company, valued at $3,425,974.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The disclosure for this sale can be found here. Insiders have sold 38,666 shares of company stock valued at $10,090,055 in the last ninety days. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on ADSK. StockNews.com raised Autodesk from a “buy” rating to a “strong-buy” rating in a research note on Thursday. BMO Capital Markets lifted their price objective on Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Oppenheimer lifted their price objective on Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research 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 research report on Friday, March 1st. Finally, Mizuho lifted their price objective on Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $272.44.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $216.50 on Friday. Autodesk, Inc. has a twelve month low of $188.38 and a twelve month high of $279.53. The firm has a market cap of $46.31 billion, a P/E ratio of 51.43, a PEG ratio of 2.95 and a beta of 1.43. The company has a 50 day moving average of $251.86 and a 200 day moving average of $234.97. 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 posted its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.95 by $0.14. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. Autodesk’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. As a group, research analysts expect that Autodesk, Inc. will post 5.38 EPS for the current fiscal 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.