Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 101 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,662 shares of the software company’s stock after selling 101 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Autodesk were worth $497,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ADSK. Jag Capital Management LLC purchased a new stake in shares of Autodesk during the third quarter valued at about $13,861,000. LMR Partners LLP purchased a new stake in Autodesk during the third quarter valued at approximately $12,643,000. Starboard Value LP acquired a new stake in Autodesk in the third quarter valued at approximately $510,189,000. Erste Asset Management GmbH purchased a new position in Autodesk in the third quarter worth $20,087,000. Finally, Brookstone Capital Management increased its position in shares of Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after purchasing an additional 26,768 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of Autodesk stock opened at $301.15 on Monday. The firm has a market cap of $64.75 billion, a PE ratio of 59.75, a P/E/G ratio of 3.17 and a beta of 1.43. The business has a 50-day moving average price of $299.53 and a 200 day moving average price of $281.48. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the company posted $1.33 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ADSK shares. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Robert W. Baird raised their price target on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Scotiabank assumed coverage on shares of Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective on the stock. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Finally, UBS Group initiated coverage on shares of Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.77.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.