Zhang Financial LLC Sells 47 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Zhang Financial LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 1.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,697 shares of the software company’s stock after selling 47 shares during the period. Zhang Financial LLC’s holdings in Autodesk were worth $657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in Autodesk during the fourth quarter valued at about $28,000. First Manhattan Co. raised its position in Autodesk by 342.9% during the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after purchasing an additional 120 shares in the last quarter. Operose Advisors LLC purchased a new stake in Autodesk during the third quarter valued at about $35,000. AdvisorNet Financial Inc raised its position in Autodesk by 67.1% during the fourth quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock valued at $35,000 after purchasing an additional 57 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC raised its position in Autodesk by 140.6% during the first quarter. Carolinas Wealth Consulting LLC now owns 166 shares of the software company’s stock valued at $35,000 after purchasing an additional 97 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of Autodesk 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 sale, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were 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 directly 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 the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,666 shares of company stock valued at $10,090,055. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADSK. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of Autodesk in a research report on Monday, April 1st. Mizuho raised their price objective on Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. StockNews.com raised Autodesk from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Citigroup raised their price objective on Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Rosenblatt Securities raised their price objective on Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $272.44.

Autodesk Stock Performance

Autodesk stock opened at $216.50 on Friday. The stock’s 50 day simple moving average is $251.86 and its two-hundred day simple moving average is $234.97. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. The stock has a market cap of $46.31 billion, a price-to-earnings ratio of 51.43, a PEG ratio of 2.90 and a beta of 1.43. Autodesk, Inc. has a fifty-two week low of $188.38 and a fifty-two week high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.14. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. As a group, analysts expect that Autodesk, Inc. will post 5.38 earnings per share 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.