Autodesk, Inc. (ADSK) Stake Decreased by Reliance Trust Co. of Delaware
Reliance Trust Co. of Delaware decreased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 24.2% during the first quarter, Holdings Channel reports. The fund owned 17,379 shares of the software company’s stock after selling 5,561 shares during the period. Reliance Trust Co. of Delaware’s holdings in Autodesk were worth $1,503,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Autodesk during the third quarter valued at $101,000. Parallel Advisors LLC purchased a new stake in Autodesk during the fourth quarter valued at $137,000. Independent Advisor Alliance purchased a new stake in Autodesk during the fourth quarter valued at $138,000. Baird Financial Group Inc. increased its stake in Autodesk by 1.0% in the fourth quarter. Baird Financial Group Inc. now owns 2,838 shares of the software company’s stock valued at $210,000 after buying an additional 29 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new stake in Autodesk during the fourth quarter valued at $216,000. Institutional investors and hedge funds own 97.13% of the company’s stock.
Autodesk, Inc. (NASDAQ:ADSK) traded up 0.49% during trading on Tuesday, reaching $86.41. The company had a trading volume of 1,321,886 shares. Autodesk, Inc. has a 1-year low of $49.82 and a 1-year high of $89.18. The firm has a 50-day moving average of $85.60 and a 200-day moving average of $79.05. The stock’s market capitalization is $19.08 billion.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, March 2nd. The software company reported ($0.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.06. The firm earned $478.80 million during the quarter, compared to analysts’ expectations of $476.06 million. Autodesk had a negative net margin of 20.30% and a negative return on equity of 13.74%. The business’s revenue for the quarter was down 26.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, analysts anticipate that Autodesk, Inc. will post ($0.60) EPS for the current fiscal year.
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Several analysts have weighed in on the company. Guggenheim assumed coverage on Autodesk in a research note on Wednesday, April 12th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded Autodesk from a “sell” rating to a “hold” rating in a research note on Tuesday, December 20th. Wells Fargo & Co assumed coverage on Autodesk in a research note on Wednesday, January 11th. They set an “outperform” rating on the stock. Canaccord Genuity reiterated a “buy” rating and set a $100.00 price target (up previously from $95.00) on shares of Autodesk in a research note on Friday, March 3rd. Finally, Barclays PLC reiterated an “overweight” rating and set a $105.00 price target on shares of Autodesk in a research note on Monday, March 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $81.00.
In related news, CEO Andrew Anagnost sold 5,540 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $86.00, for a total transaction of $476,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jan Becker sold 6,702 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $85.74, for a total transaction of $574,629.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,113 shares of company stock valued at $10,785,367. Corporate insiders own 6.20% of the company’s stock.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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