Candelo Capital Management LP Sells 2,999 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Candelo Capital Management LP lessened its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 10.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,501 shares of the software company's stock after selling 2,999 shares during the period. Autodesk comprises 3.7% of Candelo Capital Management LP's investment portfolio, making the stock its 4th biggest holding. Candelo Capital Management LP's holdings in Autodesk were worth $7,242,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ADSK. China Universal Asset Management Co. Ltd. lifted its position in shares of Autodesk by 196.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock worth $2,394,000 after buying an additional 5,365 shares during the last quarter. Brookstone Capital Management lifted its position in Autodesk by 1,058.9% in the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company's stock valued at $8,659,000 after acquiring an additional 26,768 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Autodesk in the fourth quarter valued at $13,906,000. Robeco Institutional Asset Management B.V. boosted its stake in Autodesk by 25.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company's stock valued at $88,711,000 after acquiring an additional 60,963 shares in the last quarter. Finally, GAM Holding AG purchased a new position in shares of Autodesk during the fourth quarter worth about $3,453,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at $802,671.87. The trade was a 44.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at $534,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Mizuho decreased their target price on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company lowered their target price on shares of Autodesk from $350.00 to $345.00 and set an "overweight" rating on the stock in a research report on Tuesday. Morgan Stanley reduced their price target on shares of Autodesk from $385.00 to $330.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barclays lowered their price objective on shares of Autodesk from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Bank of America upped their target price on shares of Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $321.36.

Autodesk Trading Up 2.7 %

Shares of ADSK opened at $261.14 on Wednesday. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $55.62 billion, a P/E ratio of 51.81, a PEG ratio of 2.94 and a beta of 1.49. The firm's 50-day moving average is $266.34 and its two-hundred day moving average is $286.75.

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.

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