PNC Financial Services Group Inc. Has $26.11 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

PNC Financial Services Group Inc. decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,771 shares of the software company’s stock after selling 5,435 shares during the period. PNC Financial Services Group Inc.’s holdings in Autodesk were worth $26,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Autodesk by 263.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd grew its position in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares during the last quarter. Principal Financial Group Inc. raised its stake in Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after acquiring an additional 245,816 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Autodesk by 4.0% in the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after acquiring an additional 81,314 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Autodesk by 4.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,717,367 shares of the software company’s stock valued at $491,673,000 after purchasing an additional 74,394 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Oppenheimer raised their price objective on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. HSBC raised Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Finally, Citigroup set a $325.00 price objective on shares of Autodesk and gave the company a “buy” rating in a report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $302.38.

Autodesk Stock Performance

Shares of ADSK opened at $315.22 on Friday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $317.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a 50 day moving average price of $285.29 and a two-hundred day moving average price of $253.88. The firm has a market capitalization of $67.77 billion, a P/E ratio of 64.46, a P/E/G ratio of 3.90 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm earned $1.12 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Equities analysts forecast that Autodesk, Inc. will post 5.73 earnings per share 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.