Goodman Advisory Group LLC Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Goodman Advisory Group LLC reduced its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,960 shares of the software company's stock after selling 1,955 shares during the period. Goodman Advisory Group LLC's holdings in Autodesk were worth $3,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. Vanguard Group Inc. grew its position in Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock worth $6,025,331,000 after acquiring an additional 119,034 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Autodesk by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock valued at $1,391,145,000 after purchasing an additional 45,623 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Autodesk by 406.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after buying an additional 2,307,960 shares during the last quarter. Invesco Ltd. boosted its stake in 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 buying an additional 191,666 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock worth $603,947,000 after acquiring an additional 245,816 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John T. Cahill purchased 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now owns 2,000 shares of the company's stock, valued at $534,200. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents 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 Stock Performance

Shares of ADSK stock traded up $5.41 on Wednesday, hitting $266.55. The company had a trading volume of 400,946 shares, compared to its average volume of 1,642,197. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month 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. The firm has a market cap of $56.78 billion, a P/E ratio of 52.89, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The company has a 50-day moving average price of $266.34 and a 200-day moving average price of $286.75.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADSK. UBS Group increased their price objective on shares of Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. KeyCorp cut their price objective on Autodesk from $335.00 to $323.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Citigroup decreased their target price on Autodesk from $361.00 to $339.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Robert W. Baird reduced their price target on shares of Autodesk from $345.00 to $336.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Finally, Piper Sandler raised shares of Autodesk from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $321.36.

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.