Impax Asset Management Group plc Lowers Stake in Autodesk, Inc. (NASDAQ:ADSK)

Impax Asset Management Group plc cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 15.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 790,206 shares of the software company’s stock after selling 142,928 shares during the period. Impax Asset Management Group plc owned 0.37% of Autodesk worth $217,686,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADSK. TD Asset Management Inc grew its position in Autodesk by 13.0% during the 1st quarter. TD Asset Management Inc now owns 434,407 shares of the software company’s stock worth $113,128,000 after purchasing an additional 50,027 shares during the period. Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of Autodesk by 10.9% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 50,291 shares of the software company’s stock worth $13,097,000 after buying an additional 4,932 shares during the last quarter. Cetera Investment Advisers increased its holdings in Autodesk by 163.4% in the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after purchasing an additional 38,196 shares during the last quarter. Forsta AP Fonden boosted its position in Autodesk by 7.9% in the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after buying an additional 3,800 shares during the period. Finally, Primecap Management Co. CA lifted its position in shares of Autodesk by 8.2% during the 2nd quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after purchasing an additional 49,500 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Performance

Autodesk stock opened at $287.62 on Tuesday. The company has a market capitalization of $61.84 billion, a P/E ratio of 58.82, a P/E/G ratio of 3.60 and a beta of 1.47. The business has a 50 day moving average of $272.41 and a 200-day moving average of $246.11. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $294.13.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $1.12 EPS. Autodesk’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Activity at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the sale, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,280 shares of company stock worth $5,200,929. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADSK. Royal Bank of Canada boosted their price target on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. DA Davidson started coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target on the stock. Wells Fargo & Company started coverage on shares of Autodesk in a research report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 target price on the stock. Citigroup set a $325.00 target price on shares of Autodesk and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $320.00 price target on shares of Autodesk in a report on Monday, September 30th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $292.95.

Autodesk Company 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.