XXEC Inc. Decreases Position in Autodesk, Inc. (NASDAQ:ADSK)

XXEC Inc. reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 74.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,240 shares of the software company's stock after selling 21,652 shares during the quarter. Autodesk comprises approximately 1.4% of XXEC Inc.'s holdings, making the stock its 23rd largest position. XXEC Inc.'s holdings in Autodesk were worth $1,763,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bouvel Investment Partners LLC grew its holdings in shares of Autodesk by 0.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company's stock valued at $2,864,000 after purchasing an additional 44 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Autodesk by 3.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company's stock valued at $306,000 after purchasing an additional 45 shares in the last quarter. Curbstone Financial Management Corp grew its holdings in shares of Autodesk by 0.5% in the fourth quarter. Curbstone Financial Management Corp now owns 9,760 shares of the software company's stock valued at $2,376,000 after purchasing an additional 50 shares in the last quarter. Zions Bancorporation N.A. grew its holdings in shares of Autodesk by 8.7% in the first quarter. Zions Bancorporation N.A. now owns 635 shares of the software company's stock valued at $136,000 after purchasing an additional 51 shares in the last quarter. Finally, Berkshire Asset Management LLC PA grew its holdings in shares of Autodesk by 1.0% in the second quarter. Berkshire Asset Management LLC PA now owns 5,218 shares of the software company's stock valued at $1,068,000 after purchasing an additional 52 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $240.28, for a total transaction of $132,154.00. Following the transaction, the director now owns 41,816 shares in the company, valued at approximately $10,047,548.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $240.28, for a total transaction of $132,154.00. Following the transaction, the director now owns 41,816 shares in the company, valued at approximately $10,047,548.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company's stock, valued at $898,621.50. The disclosure for this sale can be found here. Insiders have sold 46,770 shares of company stock worth $12,065,385 in the last quarter. Corporate insiders own 0.14% of the company's stock.

Autodesk Stock Performance

Autodesk stock traded down $0.07 during mid-day trading on Friday, hitting $244.74. The company had a trading volume of 1,318,200 shares, compared to its average volume of 1,196,249. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. Autodesk, Inc. has a 12-month low of $188.38 and a 12-month high of $279.53. The company's fifty day moving average is $257.09 and its 200-day moving average is $233.56. The company has a market capitalization of $52.35 billion, a price-to-earnings ratio of 58.13, a P/E/G ratio of 3.36 and a beta of 1.43.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. The business's quarterly revenue was up 11.5% compared to the same quarter last year. Equities research analysts predict that Autodesk, Inc. will post 5.38 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ADSK shares. 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 report on Friday, March 1st. Piper Sandler lifted their price objective on shares of Autodesk from $234.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Bank Of America (Bofa) lifted their price objective on shares of Autodesk from $235.00 to $240.00 in a research note on Monday, December 11th. Berenberg Bank lifted their price objective on shares of Autodesk from $228.50 to $255.00 in a research note on Monday, December 11th. Finally, Rosenblatt Securities lifted their price objective on shares of Autodesk from $265.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $272.44.

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.