Paces Ferry Wealth Advisors LLC Decreases Position in Autodesk, Inc. (NASDAQ:ADSK)

Paces Ferry Wealth Advisors LLC lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,894 shares of the software company’s stock after selling 87 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Autodesk were worth $461,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Bfsg LLC bought a new position in Autodesk during the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new position in Autodesk during the 4th quarter valued at $28,000. Operose Advisors LLC purchased a new stake in Autodesk in the third quarter worth $35,000. AdvisorNet Financial Inc lifted its position in shares of Autodesk by 67.1% during the fourth quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock worth $35,000 after purchasing an additional 57 shares during the last quarter. Finally, VisionPoint Advisory Group LLC boosted its stake in shares of Autodesk by 230.5% during the third quarter. VisionPoint Advisory Group LLC now owns 195 shares of the software company’s stock valued at $40,000 after purchasing an additional 136 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ADSK shares. Piper Sandler boosted their price objective on shares of Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. KeyCorp upped their target price on Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Mizuho lifted their price objective on Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, March 1st. BMO Capital Markets raised their target price on shares of Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of Autodesk in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.44.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 1,628 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total transaction of $409,507.12. Following the sale, the executive vice president now directly owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the transaction, the executive vice president now owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The disclosure for this sale can be found here. Insiders sold a total of 36,166 shares of company stock valued at $9,465,055 over the last 90 days. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Shares of NASDAQ ADSK traded down $3.93 during mid-day trading on Tuesday, hitting $212.85. The stock had a trading volume of 1,427,515 shares, compared to its average volume of 1,469,514. The company has a 50 day moving average of $245.86 and a two-hundred day moving average of $235.68. Autodesk, Inc. has a twelve month low of $189.54 and a twelve month high of $279.53. 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 firm has a market cap of $45.53 billion, a PE ratio of 50.56, a PEG ratio of 3.00 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. The firm had revenue of $1.47 billion during 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 company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. Research analysts predict that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

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.