Chevy Chase Trust Holdings LLC Trims Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Chevy Chase Trust Holdings LLC cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.4% during the first quarter, HoldingsChannel.com reports. The fund owned 118,976 shares of the software company’s stock after selling 435 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Autodesk were worth $30,984,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ADSK. Norges Bank bought a new position in shares of Autodesk during the fourth quarter valued at approximately $619,404,000. Van ECK Associates Corp boosted its stake in shares of Autodesk by 1,162.9% during the first quarter. Van ECK Associates Corp now owns 817,808 shares of the software company’s stock valued at $212,973,000 after purchasing an additional 753,051 shares in the last quarter. FIL Ltd boosted its stake in shares of Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after purchasing an additional 479,559 shares in the last quarter. Cantillon Capital Management LLC boosted its stake in shares of Autodesk by 35.1% during the fourth quarter. Cantillon Capital Management LLC now owns 1,702,608 shares of the software company’s stock valued at $414,551,000 after purchasing an additional 442,005 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of Autodesk by 48.0% during the fourth quarter. Baillie Gifford & Co. now owns 1,322,121 shares of the software company’s stock valued at $321,910,000 after purchasing an additional 429,071 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Price Performance

ADSK traded up $1.77 on Wednesday, reaching $245.73. 876,977 shares of the company’s stock were exchanged, compared to its average volume of 1,754,857. The stock has a market cap of $52.96 billion, a PE ratio of 52.54, a P/E/G ratio of 3.31 and a beta of 1.48. Autodesk, Inc. has a twelve month low of $192.01 and a twelve month high of $279.53. The stock’s fifty day moving average price is $225.37 and its 200-day moving average price is $239.43. 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 (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. Autodesk’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 earnings per share. Sell-side analysts expect that Autodesk, Inc. will post 5.55 EPS for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the transaction, the director now directly 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 accessible through the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of the company’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 sale, the director now directly owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the sale, the chief operating officer now directly owns 54,136 shares in the company, valued at $12,256,390.40. The disclosure for this sale can be found here. Insiders have sold 19,138 shares of company stock worth $4,338,701 in the last ninety days. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ADSK shares. Bank of America lowered their target price on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. Morgan Stanley restated an “equal weight” rating and issued a $255.00 target price on shares of Autodesk in a research note on Wednesday, June 12th. Piper Sandler restated a “neutral” rating and issued a $239.00 target price on shares of Autodesk in a research note on Wednesday, June 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Autodesk in a report on Tuesday, June 18th. Finally, KeyCorp decreased their price target on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.