Capital Research Global Investors Sells 413,882 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Capital Research Global Investors decreased its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 41.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,776 shares of the software company's stock after selling 413,882 shares during the quarter. Capital Research Global Investors owned approximately 0.27% of Autodesk worth $171,078,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADSK. Golden State Wealth Management LLC bought a new position in Autodesk in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC boosted its holdings in Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Autodesk during the 4th quarter valued at about $30,000. Addison Advisors LLC grew its position in shares of Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after buying an additional 74 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Autodesk during the fourth quarter worth approximately $37,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Autodesk

In other news, 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 transaction of $655,395.08. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the 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 purchase, the director now owns 2,000 shares in the company, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of analyst reports. Barclays cut their price target on Autodesk from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. UBS Group boosted their price objective on shares of Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a report on Friday, February 28th. Stifel Nicolaus reduced their price target on shares of Autodesk from $350.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Scotiabank lowered their price objective on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, Wells Fargo & Company decreased their target price on Autodesk from $350.00 to $345.00 and set an "overweight" rating for the company in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $321.36.

Autodesk Stock Performance

ADSK stock traded down $1.78 during mid-day trading on Friday, hitting $269.93. 1,307,899 shares of the company were exchanged, compared to its average volume of 1,638,547. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The business has a 50 day simple moving average of $264.95 and a 200-day simple moving average of $286.62. 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 stock has a market capitalization of $57.50 billion, a PE ratio of 53.56, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49.

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.