Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its position in Autodesk, Inc. (NASDAQ:ADSK) by 51.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 832,527 shares of the software company’s stock after selling 884,840 shares during the quarter. Van ECK Associates Corp’s holdings in Autodesk were worth $246,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Autodesk during the 4th quarter valued at about $25,000. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk during the third quarter worth about $27,000. Concord Wealth Partners purchased a new position in shares of Autodesk in the third quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new position in shares of Autodesk in the third quarter valued at approximately $28,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Autodesk in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Down 0.8 %

Shares of NASDAQ ADSK opened at $297.28 on Thursday. The business has a 50-day moving average price of $299.71 and a 200 day moving average price of $282.64. The stock has a market cap of $63.92 billion, a PE ratio of 58.98, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. 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 52-week low of $195.32 and a 52-week high of $326.62.

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

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the company’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 transaction of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ADSK has been the subject of several recent research reports. Oppenheimer raised their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Bank of America boosted their target price on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley increased their price target on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Citigroup lifted their price objective on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.77.

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.