Autodesk, Inc. (NASDAQ:ADSK) Stake Lessened by Toroso Investments LLC

Toroso Investments LLC lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,815 shares of the software company’s stock after selling 279 shares during the period. Toroso Investments LLC’s holdings in Autodesk were worth $1,406,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Brown Brothers Harriman & Co. increased its stake in shares of Autodesk by 20.4% in the second quarter. Brown Brothers Harriman & Co. now owns 7,093 shares of the software company’s stock worth $2,070,000 after buying an additional 1,203 shares during the last quarter. Sigma Planning Corp boosted its holdings in Autodesk by 32.5% in the second quarter. Sigma Planning Corp now owns 4,546 shares of the software company’s stock worth $1,327,000 after purchasing an additional 1,114 shares during the period. Robbins Farley LLC boosted its holdings in Autodesk by 12.2% in the second quarter. Robbins Farley LLC now owns 11,266 shares of the software company’s stock worth $3,289,000 after purchasing an additional 1,224 shares during the period. Neuberger Berman Group LLC boosted its holdings in Autodesk by 16.3% in the second quarter. Neuberger Berman Group LLC now owns 795,018 shares of the software company’s stock worth $231,561,000 after purchasing an additional 111,604 shares during the period. Finally, Jump Financial LLC boosted its holdings in Autodesk by 86.0% in the second quarter. Jump Financial LLC now owns 1,639 shares of the software company’s stock worth $478,000 after purchasing an additional 758 shares during the period. Institutional investors and hedge funds own 85.14% of the company’s stock.

Shares of ADSK stock opened at $283.45 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.50 and a current ratio of 0.50. The firm’s 50-day moving average is $301.57 and its 200-day moving average is $294.03. The stock has a market cap of $62.32 billion, a price-to-earnings ratio of 47.96, a PEG ratio of 2.81 and a beta of 1.32. Autodesk, Inc. has a 52-week low of $233.32 and a 52-week high of $344.39.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, August 24th. The software company reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.08. Autodesk had a net margin of 32.54% and a return on equity of 69.10%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned $0.98 EPS. Autodesk’s quarterly revenue was up 16.1% on a year-over-year basis. Sell-side analysts predict that Autodesk, Inc. will post 2.89 EPS for the current fiscal year.

Several equities analysts have recently issued reports on ADSK shares. Zacks Investment Research raised shares of Autodesk from a “sell” rating to a “hold” rating and set a $324.00 price target for the company in a report on Wednesday, July 28th. Royal Bank of Canada boosted their price target on shares of Autodesk from $340.00 to $363.00 and gave the stock an “outperform” rating in a research report on Monday, August 23rd. Stifel Nicolaus cut their price objective on Autodesk from $370.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, September 2nd. Morgan Stanley cut their price objective on Autodesk from $334.00 to $324.00 and set an “equal weight” rating on the stock in a report on Thursday, September 2nd. Finally, Mizuho reiterated a “buy” rating and set a $350.00 price objective (down from $370.00) on shares of Autodesk in a report on Thursday, September 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $330.11.

In related news, CAO Stephen W. Hope sold 262 shares of the stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $286.46, for a total value of $75,052.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Anagnost sold 2,434 shares of the firm’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $286.18, for a total transaction of $696,562.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,220 shares of company stock worth $9,941,402. Company insiders own 0.11% of the company’s stock.

About Autodesk

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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