Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd cut its position in Autodesk, Inc. (NASDAQ:ADSK) by 44.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,430 shares of the software company’s stock after selling 1,131 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Autodesk were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk in the first quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in Autodesk during the 1st quarter worth $26,000. Olistico Wealth LLC acquired a new position in Autodesk in the second quarter valued at $26,000. Pacifica Partners Inc. increased its stake in Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares during the period. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Autodesk during the third quarter worth about $27,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the topic of several recent research reports. BMO Capital Markets boosted their price target on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Citigroup set a $325.00 price target on Autodesk and gave the stock a “buy” rating in a research note on Friday, October 18th. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company assumed coverage on shares of Autodesk in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 target price for the company. Finally, Oppenheimer lifted their target price on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and an average price target of $292.95.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the sale, the director now owns 30,799 shares of the company’s stock, valued at $8,787,262.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 0.00 % 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. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the transaction, the director now owns 30,799 shares of the company’s stock, valued at $8,787,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,730 shares of company stock valued at $5,064,430. Corporate insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $313.14 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $278.10 and its 200 day moving average price is $249.83. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $315.73. The stock has a market cap of $67.33 billion, a price-to-earnings ratio of 64.04, a PEG ratio of 3.93 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $1.12 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Autodesk Profile

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.