Los Angeles Capital Management LLC Decreases Position in Autodesk, Inc. (NASDAQ:ADSK)

Los Angeles Capital Management LLC trimmed its position in Autodesk, Inc. (NASDAQ:ADSK) by 69.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 166,430 shares of the software company’s stock after selling 385,734 shares during the period. Los Angeles Capital Management LLC owned about 0.08% of Autodesk worth $43,342,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Autodesk during the fourth quarter worth approximately $25,000. Bfsg LLC acquired a new stake in Autodesk during the 4th quarter worth $27,000. Rakuten Securities Inc. purchased a new stake in shares of Autodesk during the fourth quarter worth $28,000. Private Wealth Management Group LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at about $31,000. Finally, First United Bank & Trust purchased a new position in shares of Autodesk in the fourth quarter worth about $34,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Autodesk from $180.00 to $230.00 and gave the company a “sell” rating in a report on Friday, March 1st. Mizuho reduced their price objective on Autodesk from $270.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 target price on shares of Autodesk in a report on Tuesday. Piper Sandler reissued a “neutral” rating and issued a $239.00 price objective on shares of Autodesk in a report on Wednesday, June 12th. Finally, Bank of America cut their price objective on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $262.42.

Autodesk Stock Performance

Shares of ADSK stock opened at $244.12 on Thursday. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53. The firm has a 50 day moving average of $218.65 and a two-hundred day moving average of $238.12. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $52.61 billion, a PE ratio of 52.84, a P/E/G ratio of 3.22 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its 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 during the quarter, compared to analysts’ expectations of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. Autodesk’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 EPS. On average, research analysts predict that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the completion of the transaction, the director now owns 31,566 shares in the company, valued at approximately $7,418,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the sale, the director now owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,501 shares of company stock worth $11,714,162. Company 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.