Legal & General Group Plc Decreases Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Legal & General Group Plc cut its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 20.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,814,080 shares of the software company's stock after selling 454,152 shares during the period. Legal & General Group Plc owned approximately 0.84% of Autodesk worth $536,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC raised its holdings in Autodesk by 1.9% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company's stock worth $551,000 after purchasing an additional 35 shares in the last quarter. Y.D. More Investments Ltd increased its position in Autodesk by 1.0% during the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company's stock worth $1,000,000 after purchasing an additional 35 shares during the period. Grove Bank & Trust raised its stake in shares of Autodesk by 9.2% during the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company's stock worth $130,000 after buying an additional 37 shares in the last quarter. Journey Strategic Wealth LLC lifted its holdings in shares of Autodesk by 4.6% in the 4th 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 holdings in shares of Autodesk by 11.9% in 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 period. Institutional investors and hedge funds own 90.24% of the company's stock.

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Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 2,452 shares of the company's 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 completion of the sale, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at approximately $802,671.87. This represents a 44.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.14% of the company's stock.

Autodesk Trading Up 0.6 %

Autodesk stock traded up $1.53 during midday trading on Friday, reaching $258.45. The stock had a trading volume of 1,274,634 shares, compared to its average volume of 1,696,441. The stock's 50-day simple moving average is $272.44 and its 200 day simple moving average is $287.38. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $55.05 billion, a PE ratio of 51.28, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a report on Wednesday. Oppenheimer lowered their price target on Autodesk from $350.00 to $300.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Piper Sandler upgraded Autodesk from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Bank of America lifted their price target on Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, UBS Group lifted their target price 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. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Autodesk currently has an average rating of "Moderate Buy" and an average price target of $327.82.

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.