Louisiana State Employees Retirement System Cuts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Louisiana State Employees Retirement System lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,500 shares of the software company’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Autodesk were worth $7,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its position in Autodesk by 97.4% in the first quarter. Sunbelt Securities Inc. now owns 987 shares of the software company’s stock worth $257,000 after acquiring an additional 487 shares in the last quarter. Brookstone Capital Management lifted its stake in shares of Autodesk by 9.5% in the first quarter. Brookstone Capital Management now owns 1,389 shares of the software company’s stock valued at $362,000 after purchasing an additional 121 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in Autodesk during the first quarter worth about $212,000. Grimes & Company Inc. acquired a new position in Autodesk during the first quarter worth about $203,000. Finally, Founders Financial Securities LLC increased its holdings in Autodesk by 24.9% in the first quarter. Founders Financial Securities LLC now owns 1,308 shares of the software company’s stock valued at $341,000 after buying an additional 261 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Buying and Selling

In other news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,200,929 in the last quarter. Company insiders own 0.14% of the company’s stock.

Autodesk Trading Up 0.1 %

NASDAQ ADSK opened at $286.04 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk, Inc. has a one year low of $192.01 and a one year high of $294.13. The company’s 50 day moving average price is $267.49 and its 200 day moving average price is $243.28. The firm has a market capitalization of $61.64 billion, a price-to-earnings ratio of 61.91, a PEG ratio of 3.52 and a beta of 1.48.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup set a $325.00 price target on Autodesk and gave the stock a “buy” rating in a research note on Friday, October 18th. BMO Capital Markets raised their price target on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Wells Fargo & Company began coverage on shares of Autodesk in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price objective on the stock. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Finally, Rosenblatt Securities increased their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $292.95.

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.