Covestor Ltd Sells 120 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Covestor Ltd lowered its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 24.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 374 shares of the software company’s stock after selling 120 shares during the period. Covestor Ltd’s holdings in Autodesk were worth $111,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Golden State Wealth Management LLC bought a new position in Autodesk during the 4th quarter worth $25,000. Tradewinds Capital Management LLC increased its stake in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after buying an additional 50 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of Autodesk in the fourth quarter valued at about $30,000. Addison Advisors LLC raised its position in shares of Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after acquiring an additional 74 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Autodesk in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $534,200. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $655,395.08. Following the sale, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on ADSK shares. UBS Group increased their target price on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Citigroup lowered their target price on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Macquarie reaffirmed an “outperform” rating and set a $360.00 price target on shares of Autodesk in a research report on Friday, February 28th. Robert W. Baird decreased their price target on Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their price objective on Autodesk from $300.00 to $280.00 and set a “neutral” rating on the stock in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.82.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $258.45 on Friday. 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 stock has a market cap of $55.05 billion, a PE ratio of 51.28, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The stock’s fifty day simple moving average is $272.44 and its two-hundred day simple moving average is $287.28. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

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.