Spartan Planning & Wealth Management Cuts Position in Autodesk, Inc. (NASDAQ:ADSK)

Spartan Planning & Wealth Management decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 42.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 287 shares of the software company’s stock after selling 216 shares during the period. Spartan Planning & Wealth Management’s holdings in Autodesk were worth $70,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Autodesk by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 19,038,677 shares of the software company’s stock valued at $4,635,537,000 after buying an additional 310,081 shares during the period. Wahed Invest LLC raised its stake in shares of Autodesk by 7.6% during the fourth quarter. Wahed Invest LLC now owns 3,669 shares of the software company’s stock valued at $893,000 after purchasing an additional 260 shares during the period. Trust Co. of Vermont raised its stake in shares of Autodesk by 1.2% during the fourth quarter. Trust Co. of Vermont now owns 22,846 shares of the software company’s stock valued at $5,563,000 after purchasing an additional 273 shares during the period. SageView Advisory Group LLC raised its stake in shares of Autodesk by 0.6% during the fourth quarter. SageView Advisory Group LLC now owns 35,070 shares of the software company’s stock valued at $8,994,000 after purchasing an additional 204 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Autodesk by 5.7% during the fourth quarter. Fisher Asset Management LLC now owns 743,480 shares of the software company’s stock valued at $181,023,000 after purchasing an additional 40,262 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADSK. KeyCorp dropped their price objective on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. Barclays dropped their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Rosenblatt Securities reiterated a “buy” rating and set a $290.00 price objective on shares of Autodesk in a research note on Wednesday, June 12th. Stifel Nicolaus decreased their price target on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $262.42.

Insider Buying and Selling at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the sale, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Anagnost sold 21,053 shares of the business’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 value of $5,473,569.47. Following the completion of the sale, 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 a total of 47,501 shares of company stock valued at $11,714,162 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Price Performance

Shares of Autodesk stock opened at $240.51 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average price is $218.62 and its two-hundred day moving average price is $237.94. 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 $51.95 billion, a PE ratio of 52.06, a price-to-earnings-growth ratio of 3.02 and a beta of 1.43.

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

About Autodesk

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.