Metis Global Partners LLC Cuts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Metis Global Partners LLC reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,313 shares of the software company’s stock after selling 84 shares during the period. Metis Global Partners LLC’s holdings in Autodesk were worth $3,943,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in Autodesk by 23.4% during the first quarter. Empowered Funds LLC now owns 3,457 shares of the software company’s stock worth $900,000 after acquiring an additional 656 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Autodesk by 9.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,417 shares of the software company’s stock valued at $369,000 after buying an additional 122 shares during the last quarter. Blair William & Co. IL increased its position in Autodesk by 1.8% during the first quarter. Blair William & Co. IL now owns 13,409 shares of the software company’s stock worth $3,492,000 after buying an additional 241 shares in the last quarter. Cumberland Partners Ltd acquired a new position in shares of Autodesk in the first quarter worth $424,000. Finally, M&G Plc purchased a new stake in shares of Autodesk in the first quarter valued at $41,665,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADSK. Citigroup set a $325.00 target price on shares of Autodesk and gave the company a “buy” rating in a report on Friday, October 18th. DA Davidson assumed coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Piper Sandler boosted their price target on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and increased their price target for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Finally, Berenberg Bank upped their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 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. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.95.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,730 shares of company stock valued at $5,064,430 over the last three months. 0.14% of the stock is owned by insiders.

Autodesk Stock Performance

Autodesk stock opened at $306.65 on Friday. The stock’s 50 day moving average price is $279.25 and its 200 day moving average price is $250.27. Autodesk, Inc. has a one year low of $195.32 and a one year high of $315.73. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $65.93 billion, a PE ratio of 62.71, a price-to-earnings-growth 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, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that Autodesk, Inc. will post 5.73 EPS 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.