FIL Ltd Trims Holdings in Autodesk, Inc. (NASDAQ:ADSK)

FIL Ltd reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 37.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,697,227 shares of the software company’s stock after selling 1,033,519 shares during the quarter. FIL Ltd owned approximately 0.79% of Autodesk worth $501,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Autodesk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock worth $6,025,331,000 after purchasing an additional 119,034 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Autodesk by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock worth $1,391,145,000 after buying an additional 45,623 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after acquiring an additional 2,307,960 shares during the last quarter. Invesco Ltd. grew its stake in Autodesk by 8.7% during the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company’s stock valued at $704,419,000 after acquiring an additional 191,666 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after acquiring an additional 245,816 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at $802,671.87. The trade was a 44.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is owned by corporate insiders.

Autodesk Stock Down 0.8 %

Shares of ADSK opened at $243.62 on Tuesday. The firm has a fifty day moving average price of $279.01 and a 200-day moving average price of $288.18. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $51.89 billion, a P/E ratio of 48.34, a P/E/G ratio of 2.94 and a beta of 1.49. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ADSK. Citigroup cut their price objective on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. Robert W. Baird decreased their price objective on Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Bank of America raised their target price on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, KeyCorp upped their price target on shares of Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $336.29.

About Autodesk

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.