Meeder Asset Management Inc. Trims Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Meeder Asset Management Inc. lowered its position in Autodesk, Inc. (NASDAQ:ADSK) by 37.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123 shares of the software company’s stock after selling 73 shares during the period. Meeder Asset Management Inc.’s holdings in Autodesk were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADSK. Norges Bank purchased a new stake in shares of Autodesk in the 4th quarter valued at $632,566,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Autodesk during the 4th quarter worth about $154,408,000. Raymond James Financial Inc. acquired a new stake in Autodesk during the 4th quarter worth about $116,828,000. Franklin Resources Inc. lifted its holdings in shares of Autodesk by 36.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after buying an additional 387,309 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Autodesk by 25.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,508,746 shares of the software company’s stock worth $445,940,000 after buying an additional 304,287 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was purchased at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the acquisition, the director now directly owns 2,000 shares in the company, valued at $534,200. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ADSK shares. Scotiabank reduced their price target on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Stifel Nicolaus decreased their target price on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, February 28th. UBS Group raised their price target 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. Barclays increased their target price on shares of Autodesk from $355.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Robert W. Baird reduced 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. 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 has an average rating of “Moderate Buy” and an average price target of $336.29.

Autodesk Price Performance

ADSK stock opened at $267.93 on Thursday. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $57.07 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The business has a 50 day simple moving average of $282.10 and a 200-day simple moving average of $288.42.

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.