Fmr LLC Sells 847,943 Shares of Autodesk, Inc. (NASDAQ:ADSK)

FMR LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,805,659 shares of the software company's stock after selling 847,943 shares during the quarter. FMR LLC owned approximately 2.24% of Autodesk worth $1,420,409,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ADSK. Mount Yale Investment Advisors LLC raised its position in Autodesk by 1.9% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company's stock worth $551,000 after acquiring an additional 35 shares during the period. Y.D. More Investments Ltd lifted its stake in Autodesk by 1.0% in the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company's stock valued at $1,000,000 after purchasing an additional 35 shares during the last quarter. Grove Bank & Trust grew its holdings in Autodesk by 9.2% during the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company's stock valued at $130,000 after purchasing an additional 37 shares during the period. Journey Strategic Wealth LLC raised its stake in shares of Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company's stock valued at $247,000 after buying an additional 37 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Autodesk by 11.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company's stock valued at $106,000 after buying an additional 38 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

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Autodesk Price Performance

Shares of NASDAQ ADSK traded up $1.53 during trading hours on Friday, reaching $258.45. 1,274,634 shares of the stock traded hands, compared to its average volume of 1,696,124. The company's 50-day simple moving average is $272.44 and its two-hundred day simple moving average is $287.28. The company has a market capitalization of $55.05 billion, a P/E ratio of 51.28, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Analyst Ratings Changes

ADSK has been the topic of a number of research reports. Robert W. Baird lowered their price objective on Autodesk from $345.00 to $336.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $325.00 price target on shares of Autodesk in a research report on Tuesday, February 25th. UBS Group raised their price objective on shares of Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Citigroup lowered their target price on shares of Autodesk from $361.00 to $339.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler raised Autodesk from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus target price of $327.82.

Insiders Place Their Bets

In other news, Director John T. Cahill bought 2,000 shares of the business's stock in a transaction dated Friday, March 21st. The shares were 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 owns 2,000 shares of the company's stock, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction 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 sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Autodesk Company 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.