Oppenheimer & Co. Inc. Sells 1,173 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Oppenheimer & Co. Inc. cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,984 shares of the software company’s stock after selling 1,173 shares during the period. Oppenheimer & Co. Inc.’s holdings in Autodesk were worth $2,199,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Autodesk in the first quarter valued at about $26,000. Olistico Wealth LLC purchased a new stake in Autodesk in the second quarter worth about $26,000. Pacifica Partners Inc. grew its holdings in Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after acquiring an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory purchased a new position in Autodesk during the 3rd quarter valued at about $27,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,232,213 in the last ninety days. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson began coverage on Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price for the company. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Oppenheimer boosted their price target on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Rosenblatt Securities raised their price objective on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $296.20.

Autodesk Stock Performance

Shares of ADSK opened at $299.15 on Friday. The stock has a 50-day moving average of $281.32 and a two-hundred day moving average of $251.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $64.32 billion, a P/E ratio of 61.18, a P/E/G ratio of 4.00 and a beta of 1.47. Autodesk, Inc. has a one year low of $195.32 and a one year high of $315.73.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

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.