Pictet Asset Management Holding SA Sells 58,809 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Pictet Asset Management Holding SA lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,669,345 shares of the software company’s stock after selling 58,809 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Autodesk were worth $493,408,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Starboard Value LP purchased a new position in shares of Autodesk during the 3rd quarter valued at $510,189,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Autodesk by 196.2% in the fourth 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 in the last quarter. Brookstone Capital Management boosted its stake in shares of Autodesk by 1,058.9% in the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after acquiring an additional 26,768 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Autodesk during the third quarter worth about $20,087,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Autodesk during the 4th quarter valued at approximately $13,906,000. 90.24% of the stock is currently owned by institutional investors.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $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 at the SEC website. 0.14% of the stock is currently owned by insiders.

Autodesk Trading Down 0.5 %

Shares of ADSK opened at $269.81 on Friday. The company’s fifty day simple moving average is $284.61 and its 200-day simple moving average is $288.08. The company has a market cap of $57.47 billion, a P/E ratio of 53.53, a P/E/G ratio of 2.94 and a beta of 1.51. 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, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADSK shares. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Morgan Stanley upped their target price on shares of Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. Scotiabank decreased their price target on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Finally, Robert W. Baird cut their price objective on Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Autodesk has an average rating of “Moderate Buy” and an average price target of $336.29.

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.