Progressive Investment Management Corp Sells 395 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Progressive Investment Management Corp cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,399 shares of the software company’s stock after selling 395 shares during the period. Autodesk accounts for 1.2% of Progressive Investment Management Corp’s investment portfolio, making the stock its 26th largest holding. Progressive Investment Management Corp’s holdings in Autodesk were worth $4,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Autodesk in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC boosted its position in Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Autodesk during the 4th quarter worth about $30,000. Addison Advisors LLC raised its position in shares of Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after acquiring an additional 74 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Autodesk in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $261.63 on Friday. The firm has a market capitalization of $55.73 billion, a P/E ratio of 51.91, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $284.01 and its 200 day simple moving average is $288.13. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research analyst reports. DA Davidson lifted their target price on Autodesk from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Robert W. Baird dropped their target price on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $280.00 to $400.00 in a report on Tuesday, January 28th. Stifel Nicolaus dropped their price objective on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Barclays raised their target price on Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $336.29.

Insider Transactions at Autodesk

In other news, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the sale, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

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.