Aprio Wealth Management LLC Lowers Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Aprio Wealth Management LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 48.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 917 shares of the software company’s stock after selling 854 shares during the period. Aprio Wealth Management LLC’s holdings in Autodesk were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares in the last quarter. Norges Bank purchased a new stake in shares of Autodesk in the fourth quarter valued at approximately $619,404,000. Van ECK Associates Corp boosted its stake in shares of Autodesk by 1,162.9% in the first quarter. Van ECK Associates Corp now owns 817,808 shares of the software company’s stock valued at $212,973,000 after buying an additional 753,051 shares in the last quarter. FIL Ltd boosted its stake in shares of Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after buying an additional 479,559 shares in the last quarter. Finally, Cantillon Capital Management LLC boosted its stake in shares of Autodesk by 35.1% in the fourth quarter. Cantillon Capital Management LLC now owns 1,702,608 shares of the software company’s stock valued at $414,551,000 after buying an additional 442,005 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Autodesk

In other news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the transaction, the director now owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,381 shares of company stock valued at $9,401,282. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Stock Performance

Shares of Autodesk stock traded up $6.72 during trading on Thursday, reaching $239.29. The company’s stock had a trading volume of 892,990 shares, compared to its average volume of 1,697,131. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The business’s fifty day moving average price is $236.72 and its 200-day moving average price is $239.96. The firm has a market cap of $51.57 billion, a price-to-earnings ratio of 51.26, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.10. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company posted $1.55 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that Autodesk, Inc. will post 5.55 earnings per share for the current year.

Analyst Ratings Changes

ADSK has been the subject of several research reports. KeyCorp reduced their price objective on Autodesk from $320.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, May 20th. Piper Sandler reaffirmed a “neutral” rating and set a $239.00 price objective on shares of Autodesk in a report on Wednesday, June 12th. Bank of America reduced their price objective on Autodesk from $300.00 to $260.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Stifel Nicolaus reduced their price objective on Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, Citigroup upped their price objective on Autodesk from $286.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $262.42.

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.