Brinker Capital Inc. Cuts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Brinker Capital Inc. lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 14.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,168 shares of the software company’s stock after selling 10,100 shares during the period. Brinker Capital Inc.’s holdings in Autodesk were worth $14,392,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ADSK. Capital Research Global Investors increased its stake in Autodesk by 29.0% during the 1st quarter. Capital Research Global Investors now owns 14,824,825 shares of the software company’s stock worth $2,314,155,000 after buying an additional 3,333,107 shares during the period. Lone Pine Capital LLC increased its position in shares of Autodesk by 22.4% in the 1st quarter. Lone Pine Capital LLC now owns 4,023,409 shares of the software company’s stock worth $628,054,000 after purchasing an additional 735,213 shares during the last quarter. Polen Capital Management LLC bought a new stake in shares of Autodesk in the 1st quarter worth about $581,599,000. Geode Capital Management LLC increased its position in shares of Autodesk by 7.2% in the 1st quarter. Geode Capital Management LLC now owns 3,295,943 shares of the software company’s stock worth $513,455,000 after purchasing an additional 222,455 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Autodesk by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 2,976,037 shares of the software company’s stock worth $464,559,000 after purchasing an additional 36,463 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Steven M. Blum sold 6,884 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $242.28, for a total value of $1,667,855.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Anagnost sold 22,639 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $241.04, for a total transaction of $5,456,904.56. The disclosure for this sale can be found here. Insiders sold a total of 56,730 shares of company stock worth $12,807,378 over the last quarter. Insiders own 0.14% of the company’s stock.

Shares of ADSK stock traded up $0.33 during midday trading on Friday, reaching $236.43. 1,144,187 shares of the company were exchanged, compared to its average volume of 1,041,335. Autodesk, Inc. has a 12 month low of $125.38 and a 12 month high of $251.39. The company has a market cap of $51.83 billion, a P/E ratio of 172.58, a PEG ratio of 2.61 and a beta of 1.61. The company’s 50 day moving average price is $236.77 and its two-hundred day moving average price is $197.75.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Wednesday, May 27th. The software company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Autodesk had a net margin of 8.91% and a negative return on equity of 230.16%. The company had revenue of $866.00 million for the quarter, compared to the consensus estimate of $867.96 million. During the same period in the previous year, the firm earned $0.45 EPS. Autodesk’s revenue was up 17.7% on a year-over-year basis. Equities research analysts predict that Autodesk, Inc. will post 2.29 EPS for the current year.

Several research analysts have recently commented on ADSK shares. Oppenheimer raised shares of Autodesk from a “market perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, July 9th. OTR Global lowered shares of Autodesk to a “positive” rating in a report on Thursday, May 7th. Stifel Nicolaus lifted their price target on shares of Autodesk from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Canaccord Genuity lifted their price target on shares of Autodesk from $230.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Robert W. Baird lifted their price target on shares of Autodesk from $233.00 to $272.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $222.08.

Autodesk Company 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.

Further Reading: Limitations of the P/E Growth ratio

Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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