PGGM Investments Sells 22,385 Shares of Autodesk, Inc. (NASDAQ:ADSK)

PGGM Investments lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 82.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,849 shares of the software company’s stock after selling 22,385 shares during the quarter. PGGM Investments’ holdings in Autodesk were worth $1,200,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Manchester Capital Management LLC grew its stake in shares of Autodesk by 12.2% in the fourth quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock worth $378,000 after acquiring an additional 169 shares during the last quarter. TD Asset Management Inc grew its position in Autodesk by 153.0% in the 4th quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock worth $93,589,000 after purchasing an additional 232,441 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Autodesk by 58.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock worth $4,297,000 after purchasing an additional 6,481 shares during the period. abrdn plc raised its position in shares of Autodesk by 26.2% during the fourth quarter. abrdn plc now owns 460,759 shares of the software company’s stock valued at $112,186,000 after buying an additional 95,723 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Autodesk by 12.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock valued at $17,991,000 after buying an additional 8,456 shares during the period. 90.24% of the stock is owned by institutional investors.

Autodesk Price Performance

Shares of ADSK stock traded up $1.61 during trading hours on Wednesday, hitting $246.22. 790,843 shares of the company’s stock were exchanged, compared to its average volume of 1,677,804. The stock’s 50-day moving average is $240.11 and its 200-day moving average is $239.60. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53. The stock has a market cap of $53.06 billion, a price-to-earnings ratio of 53.29, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48.

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

Analysts Set New Price Targets

ADSK has been the subject of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Autodesk in a report on Tuesday, June 18th. StockNews.com lowered Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Robert W. Baird decreased their price target on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 29th. Mizuho dropped their price objective on shares of Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Finally, BMO Capital Markets reduced their price objective on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $262.42.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now directly owns 32,116 shares in the company, valued at approximately $7,264,960.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at $12,256,390.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the transaction, the director now directly owns 32,116 shares in the company, valued at $7,264,960.36. The disclosure for this sale can be found here. Insiders sold 39,381 shares of company stock worth $9,401,282 in the last quarter. Insiders own 0.14% of the company’s stock.

Autodesk Company 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.