Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 429,961 shares of the software company's stock after selling 26,186 shares during the quarter. First Trust Advisors LP owned 0.20% of Autodesk worth $127,083,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its position in shares of Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock valued at $849,858,000 after acquiring an additional 2,307,960 shares during the period. Norges Bank acquired a new position in Autodesk during the fourth quarter worth $632,566,000. Franklin Resources Inc. grew its position in shares of Autodesk by 45.1% in the fourth quarter. Franklin Resources Inc. now owns 2,102,836 shares of the software company's stock valued at $621,535,000 after purchasing an additional 653,868 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Autodesk during the 4th quarter worth about $154,408,000. Finally, Raymond James Financial Inc. purchased a new stake in Autodesk during the 4th quarter worth approximately $116,828,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Performance

Shares of NASDAQ ADSK traded down $1.78 during mid-day trading on Friday, hitting $269.93. 1,306,243 shares of the company were exchanged, compared to its average volume of 1,638,546. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market cap of $57.50 billion, a price-to-earnings ratio of 53.56, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The stock has a 50 day simple moving average of $264.95 and a 200-day simple moving average of $286.62. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADSK. Bank of America lifted their target price on shares of Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Barclays dropped their target price on Autodesk from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Citigroup lowered their price target on shares of Autodesk from $361.00 to $339.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. KeyCorp reduced their target price on shares of Autodesk from $335.00 to $323.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Oppenheimer restated an "outperform" rating on shares of Autodesk in a report on Thursday. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $321.36.

Insider Activity

In other Autodesk news, Director John T. Cahill bought 2,000 shares of the company's stock in a transaction on Friday, March 21st. The shares were bought at an average price of $267.10 per share, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the firm's 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 sale, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

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.