Clearbridge Investments LLC Reduces Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Clearbridge Investments LLC cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,366,077 shares of the software company’s stock after selling 235,988 shares during the quarter. Clearbridge Investments LLC owned about 1.10% of Autodesk worth $699,341,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ADSK. Golden State Wealth Management LLC bought a new stake in shares of Autodesk in the 4th quarter worth about $25,000. Tradewinds Capital Management LLC raised its position in Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after purchasing an additional 50 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in Autodesk in the fourth quarter worth about $30,000. Addison Advisors LLC boosted 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 valued at $36,000 after buying an additional 74 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in shares of Autodesk during the fourth quarter valued at approximately $37,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADSK has been the subject of a number of research analyst reports. KeyCorp raised their price target on Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Barclays boosted their target price on shares of Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Scotiabank reduced their price target on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Macquarie reissued an “outperform” rating and issued a $360.00 price objective on shares of Autodesk in a research report on Friday, February 28th. Finally, Robert W. Baird reduced their target price on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus price target of $336.29.

Insider Buying and Selling

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

Autodesk Stock Performance

ADSK stock opened at $261.63 on Friday. The firm has a 50-day simple moving average of $284.01 and a two-hundred day simple moving average of $288.34. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The firm has a market cap of $55.73 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 2.94 and a beta of 1.51.

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.