Insider Selling: Autodesk, Inc. (NASDAQ:ADSK) CEO Sells 21,053 Shares of Stock

Autodesk, Inc. (NASDAQ:ADSK) CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the completion of the sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Autodesk Trading Down 0.2 %

Shares of NASDAQ ADSK traded down $0.55 during trading on Thursday, hitting $260.42. 896,025 shares of the company traded hands, compared to its average volume of 1,300,215. Autodesk, Inc. has a 1 year low of $188.38 and a 1 year high of $279.53. The company has a 50-day moving average price of $256.81 and a 200-day moving average price of $231.52. The firm has a market capitalization of $55.70 billion, a P/E ratio of 61.86, a P/E/G ratio of 3.60 and a beta of 1.43. 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 (NASDAQ:ADSK) last issued its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. On average, equities analysts predict that Autodesk, Inc. will post 5.37 EPS for the current year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of analysts have weighed in on ADSK shares. Mizuho raised their price target on Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Royal Bank of Canada raised their price target on Autodesk from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Berenberg Bank raised their price objective on Autodesk from $228.50 to $255.00 in a report on Monday, December 11th. TheStreet raised Autodesk from a “c+” rating to a “b-” rating in a report on Friday, December 29th. Finally, Piper Sandler Companies raised their price objective on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.78.

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.