Autodesk, Inc. (NASDAQ:ADSK) Stake Lowered by Ninety One North America Inc.

Ninety One North America Inc. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 8.2% during the fourth quarter, HoldingsChannel reports. The fund owned 346,929 shares of the software company’s stock after selling 30,993 shares during the period. Autodesk comprises approximately 4.1% of Ninety One North America Inc.’s holdings, making the stock its 6th largest position. Ninety One North America Inc.’s holdings in Autodesk were worth $84,470,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ADSK. Acadian Asset Management LLC grew its stake in shares of Autodesk by 351.2% in the first quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock worth $775,000 after acquiring an additional 2,820 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Autodesk by 71.7% during the first quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock valued at $960,000 after buying an additional 1,871 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Autodesk by 3.6% during the first quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock valued at $1,006,000 after buying an additional 164 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Autodesk during the first quarter valued at $218,000. Finally, Dakota Wealth Management lifted its holdings in Autodesk by 18.0% in the first quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock valued at $411,000 after acquiring an additional 292 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ADSK shares. Citigroup increased their target price on Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a report on Monday, February 26th. KeyCorp increased their target price on Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Mizuho raised their price objective on Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. The Goldman Sachs Group raised their price objective on Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. Finally, Barclays raised their price objective on Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $272.44.

Autodesk Price Performance

ADSK traded down $7.09 on Thursday, hitting $207.83. 1,861,084 shares of the company’s stock traded hands, compared to its average volume of 1,382,658. The company’s 50 day simple moving average is $253.88 and its 200-day simple moving average is $235.09. The firm has a market cap of $44.45 billion, a price-to-earnings ratio of 51.05, a P/E/G ratio of 3.14 and a beta of 1.43. Autodesk, Inc. has a one year low of $188.38 and a one year high of $279.53. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.14. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. As a group, research analysts anticipate that Autodesk, Inc. will post 5.38 EPS for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the transaction, the chief executive officer now owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The disclosure for this sale can be found here. Insiders sold 46,220 shares of company stock worth $11,933,231 in the last quarter. 0.14% of the stock is owned by corporate insiders.

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.