State of Tennessee Treasury Department reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 18.2% during the first quarter, HoldingsChannel reports. The fund owned 83,832 shares of the software company’s stock after selling 18,687 shares during the period. State of Tennessee Treasury Department’s holdings in Autodesk were worth $13,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. Altshuler Shaham Ltd boosted its position in shares of Autodesk by 458.6% during the first quarter. Altshuler Shaham Ltd now owns 162 shares of the software company’s stock valued at $26,000 after buying an additional 133 shares during the last quarter. Americana Partners LLC bought a new stake in Autodesk during the 4th quarter valued at approximately $36,000. Golden State Wealth Management LLC bought a new stake in Autodesk during the 1st quarter valued at approximately $31,000. Nvwm LLC bought a new stake in Autodesk in the 1st quarter worth approximately $31,000. Finally, Clean Yield Group increased its stake in Autodesk by 71.5% in the 1st quarter. Clean Yield Group now owns 223 shares of the software company’s stock worth $35,000 after acquiring an additional 93 shares during the last quarter. 92.07% of the stock is currently owned by hedge funds and other institutional investors.

ADSK traded down $1.84 during trading hours on Friday, reaching $232.63. 17,422 shares of the company’s stock traded hands, compared to its average volume of 2,063,934. The firm has a 50-day moving average price of $210.52 and a 200 day moving average price of $187.90. Autodesk, Inc. has a 52-week low of $125.38 and a 52-week high of $247.14. The firm has a market capitalization of $51.17 billion, a PE ratio of 171.15, a PEG ratio of 2.57 and a beta of 1.62.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Wednesday, May 27th. The software company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.05. Autodesk had a negative return on equity of 230.16% and a net margin of 8.91%. The company had revenue of $866.00 million during the quarter, compared to analysts’ expectations of $867.96 million. During the same quarter in the previous year, the business earned $0.45 EPS. Autodesk’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts forecast that Autodesk, Inc. will post 2.29 EPS for the current fiscal year.

A number of research firms have issued reports on ADSK. Citigroup reduced their price objective on Autodesk from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Barclays lifted their price objective on Autodesk from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Atlantic Securities downgraded Autodesk from an “overweight” rating to a “neutral” rating and set a $179.00 price objective on the stock. in a research note on Thursday, April 23rd. Goldman Sachs Group lifted their price objective on Autodesk from $228.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, Canaccord Genuity lifted their target price on Autodesk from $230.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $216.04.

In other Autodesk news, SVP Fronzo Pascal W. Di sold 8,186 shares of Autodesk stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $195.00, for a total transaction of $1,596,270.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven M. Blum sold 7,490 shares of Autodesk stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $237.67, for a total value of $1,780,148.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,927 shares of company stock valued at $11,151,473. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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