Sit Investment Associates Inc. Sells 2,100 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sit Investment Associates Inc. trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,737 shares of the software company's stock after selling 2,100 shares during the quarter. Sit Investment Associates Inc.'s holdings in Autodesk were worth $9,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in Autodesk by 196.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock valued at $2,394,000 after acquiring an additional 5,365 shares during the period. Brookstone Capital Management lifted its holdings in shares of Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company's stock valued at $8,659,000 after purchasing an additional 26,768 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Autodesk during the fourth quarter valued at approximately $13,906,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Autodesk by 25.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company's stock worth $88,711,000 after buying an additional 60,963 shares during the last quarter. Finally, GAM Holding AG bought a new position in Autodesk during the 4th quarter valued at approximately $3,453,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

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Insider Transactions at Autodesk

In other Autodesk news, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company's stock, valued at $534,200. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at approximately $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.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADSK. DA Davidson raised their price objective on shares of Autodesk from $275.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Oppenheimer decreased their price objective on shares of Autodesk from $350.00 to $300.00 and set an "outperform" rating for the company in a report on Tuesday. JPMorgan Chase & Co. cut their target price on Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Wednesday. Scotiabank dropped their price target on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Finally, Barclays lifted their price objective on Autodesk from $355.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $329.64.

Autodesk Price Performance

Shares of NASDAQ:ADSK traded up $1.33 during mid-day trading on Friday, reaching $258.25. The stock had a trading volume of 332,922 shares, compared to its average volume of 1,690,419. The business's 50 day moving average price is $273.41 and its 200 day moving average price is $287.35. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a market cap of $55.01 billion, a P/E ratio of 50.83, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

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.