Tandem Capital Management Corp ADV Cuts Position in Autodesk, Inc. (NASDAQ:ADSK)

Tandem Capital Management Corp ADV lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,931 shares of the software company’s stock after selling 110 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Autodesk were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADSK. Bfsg LLC acquired a new stake in shares of Autodesk in the 4th quarter worth $27,000. Rakuten Securities Inc. purchased a new position in shares of Autodesk in the 4th quarter valued at approximately $28,000. Operose Advisors LLC purchased a new stake in Autodesk during the 3rd quarter worth approximately $35,000. AdvisorNet Financial Inc increased its stake in Autodesk by 67.1% during the 4th quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock valued at $35,000 after purchasing an additional 57 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Autodesk by 61.3% in the third quarter. Newbridge Financial Services Group Inc. now owns 179 shares of the software company’s stock worth $37,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $264.74, for a total transaction of $145,607.00. Following the completion of the sale, the director now owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the sale, the director now owns 38,766 shares of the company’s stock, valued at $10,262,910.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 5,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the completion of the transaction, the director now owns 33,766 shares in the company, valued at $9,285,650. The disclosure for this sale can be found here. Insiders have sold a total of 36,166 shares of company stock valued at $9,465,055 in the last 90 days. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADSK has been the topic of several research reports. Oppenheimer upped their target price on Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price objective on shares of Autodesk in a research note on Monday, April 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $316.00 target price on shares of Autodesk in a report on Friday, April 12th. Citigroup increased their price target on shares of Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, KeyCorp upped their price objective on shares of Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $272.44.

Autodesk Price Performance

Shares of ADSK stock traded up $1.40 on Thursday, reaching $216.40. 2,211,434 shares of the company were exchanged, compared to its average volume of 1,472,260. Autodesk, Inc. has a 1 year low of $188.38 and a 1 year 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 business has a 50-day moving average price of $248.34 and a 200 day moving average price of $235.26. The company has a market cap of $46.29 billion, a price-to-earnings ratio of 51.40, a P/E/G ratio of 3.00 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted 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. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. Autodesk’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS. Equities research analysts forecast that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Autodesk 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.