FIL Ltd lessened its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,697,227 shares of the software company's stock after selling 1,033,519 shares during the period. FIL Ltd owned approximately 0.79% of Autodesk worth $501,649,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Canopy Partners LLC bought a new position in Autodesk during the fourth quarter worth about $213,000. Twin Capital Management Inc. bought a new position in shares of Autodesk during the fourth quarter worth approximately $1,916,000. Invesco Ltd. increased its holdings in shares of Autodesk by 8.7% during the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company's stock worth $704,419,000 after purchasing an additional 191,666 shares during the period. Polymer Capital Management US LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at approximately $235,000. Finally, Cerity Partners LLC boosted its stake in shares of Autodesk by 1.9% in the fourth quarter. Cerity Partners LLC now owns 111,115 shares of the software company's stock valued at $32,601,000 after buying an additional 2,125 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on ADSK. Scotiabank lowered their price objective on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Bank of America raised their price target on Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Oppenheimer cut their price objective on shares of Autodesk from $350.00 to $300.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Mizuho raised shares of Autodesk from a "neutral" rating to an "outperform" rating and raised their target price for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Finally, Piper Sandler upgraded shares of Autodesk from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and an average target price of $327.82.
Get Our Latest Report on Autodesk
Autodesk Stock Up 0.6 %
NASDAQ ADSK traded up $1.53 on Friday, hitting $258.45. 1,274,634 shares of the company were exchanged, compared to its average volume of 1,696,441. Autodesk, Inc. has a 12 month low of $195.32 and a 12 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 company has a market cap of $55.05 billion, a PE ratio of 51.28, a PEG ratio of 2.94 and a beta of 1.49. The stock has a fifty day moving average of $272.44 and a 200-day moving average of $287.38.
Insider Activity
In other news, Director John T. Cahill acquired 2,000 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was purchased 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 $534,200. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk 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 transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at $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 currently owned by company insiders.
Autodesk Company Profile
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Free Report)
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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