Daiwa Securities Group Inc. Sells 15,263 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Daiwa Securities Group Inc. decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 20.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,854 shares of the software company’s stock after selling 15,263 shares during the period. Daiwa Securities Group Inc.’s holdings in Autodesk were worth $14,817,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Acadian Asset Management LLC raised its position in Autodesk by 351.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock worth $775,000 after buying an additional 2,820 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Autodesk by 71.7% in the first quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock worth $960,000 after acquiring an additional 1,871 shares during the period. Cetera Investment Advisers raised its holdings in shares of Autodesk by 3.6% during the first quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock valued at $1,006,000 after purchasing an additional 164 shares during the last quarter. Moors & Cabot Inc. bought a new position in Autodesk during the first quarter valued at approximately $218,000. Finally, Dakota Wealth Management boosted its holdings in Autodesk by 18.0% in the first quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling

In other Autodesk news, Director Stacy J. Smith sold 7,554 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $244.00, for a total value of $1,843,176.00. Following the sale, the director now owns 19,934 shares in the company, valued at approximately $4,863,896. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now owns 105,213 shares in the company, valued at approximately $27,354,327.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stacy J. Smith sold 7,554 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $244.00, for a total value of $1,843,176.00. Following the sale, the director now directly owns 19,934 shares in the company, valued at $4,863,896. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,220 shares of company stock worth $11,933,231. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADSK. Stifel Nicolaus reiterated a “buy” rating and set a $316.00 target price on shares of Autodesk in a research note on Friday, April 12th. BMO Capital Markets increased their target price on Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a report on Friday, March 1st. Piper Sandler boosted their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Barclays upped their price target on shares of Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Finally, KeyCorp raised their price objective on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $272.44.

Autodesk Stock Performance

NASDAQ ADSK opened at $210.92 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. Autodesk, Inc. has a twelve month low of $188.38 and a twelve month high of $279.53. The business has a 50-day moving average price of $253.88 and a 200-day moving average price of $235.09. The firm has a market cap of $45.12 billion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 3.14 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm earned $1.26 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

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.