Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,365 shares of the software company’s stock after selling 314 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Autodesk were worth $6,085,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Procyon Advisors LLC lifted its position in shares of Autodesk by 4.1% during the 1st quarter. Procyon Advisors LLC now owns 23,014 shares of the software company’s stock worth $5,993,000 after buying an additional 911 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Autodesk during the 1st quarter worth approximately $212,000. Brookstone Capital Management lifted its position in shares of Autodesk by 9.5% during the 1st quarter. Brookstone Capital Management now owns 1,389 shares of the software company’s stock worth $362,000 after buying an additional 121 shares during the last quarter. Sunbelt Securities Inc. lifted its position in shares of Autodesk by 97.4% during the 1st quarter. Sunbelt Securities Inc. now owns 987 shares of the software company’s stock worth $257,000 after buying an additional 487 shares during the last quarter. Finally, Navalign LLC lifted its position in shares of Autodesk by 4.0% during the 1st quarter. Navalign LLC now owns 2,660 shares of the software company’s stock worth $693,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK opened at $245.83 on Tuesday. The company has a 50-day simple moving average of $221.13 and a 200-day simple moving average of $239.12. 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 company has a market capitalization of $52.98 billion, a PE ratio of 53.21, a P/E/G ratio of 3.31 and a beta of 1.48. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53.

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

Insider Activity

In other news, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the transaction, the director now owns 32,116 shares in the company, valued at approximately $7,264,960.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction dated 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 approximately $7,264,960.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the transaction, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The disclosure for this sale can be found here. Insiders sold 19,138 shares of company stock worth $4,338,701 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ADSK shares. Stifel Nicolaus reduced their price objective 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. Robert W. Baird reduced their price objective on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of Autodesk in a research report on Tuesday, June 18th. Citigroup upped their price target on shares of Autodesk from $286.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Finally, Berenberg Bank downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price target for the company. in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.