Physician Wealth Advisors Inc. Sells 80 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Physician Wealth Advisors Inc. reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 770 shares of the software company’s stock after selling 80 shares during the period. Physician Wealth Advisors Inc.’s holdings in Autodesk were worth $228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 valued at $6,025,331,000 after purchasing an additional 119,034 shares during the period. State Street Corp lifted its holdings in Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after purchasing an additional 288,931 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Autodesk by 12.6% in the third 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 period. Norges Bank purchased a new position in shares of Autodesk during the 4th quarter valued at $632,566,000. Finally, Starboard Value LP bought a new position in Autodesk in the 3rd quarter worth about $510,189,000. 90.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and increased their price target for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Rosenblatt Securities restated a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a report on Tuesday, February 25th. KeyCorp increased their price objective on Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. DA Davidson increased their target price on Autodesk from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Finally, Robert W. Baird cut their target price on Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $336.29.

Insider Activity

In other news, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction that occurred on 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 in the company, valued at $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was bought 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 approximately $534,200. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $261.63 on Friday. The firm has a 50 day simple moving average of $284.01 and a 200-day simple moving average of $288.34. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The firm has a market cap of $55.73 billion, a PE ratio of 51.91, a P/E/G ratio of 2.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

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.