Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,814,080 shares of the software company’s stock after selling 454,152 shares during the quarter. Legal & General Group Plc’s holdings in Autodesk were worth $536,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. raised its position in shares of Autodesk by 8.7% during the 4th quarter. Invesco Ltd. now owns 2,383,255 shares of the software company’s stock worth $704,419,000 after purchasing an additional 191,666 shares during the last quarter. Polymer Capital Management US LLC purchased a new stake in Autodesk during the 4th quarter worth approximately $235,000. Cerity Partners LLC raised its holdings in shares of Autodesk by 1.9% during the fourth quarter. Cerity Partners LLC now owns 111,115 shares of the software company’s stock valued at $32,601,000 after acquiring an additional 2,125 shares during the last quarter. 2Xideas AG lifted its position in shares of Autodesk by 34.2% in the fourth quarter. 2Xideas AG now owns 72,348 shares of the software company’s stock valued at $21,384,000 after acquiring an additional 18,452 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Autodesk by 2.4% in the fourth quarter. Federated Hermes Inc. now owns 25,821 shares of the software company’s stock worth $7,632,000 after acquiring an additional 597 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $243.62 on Tuesday. The firm has a 50-day moving average of $279.01 and a two-hundred day moving average of $288.18. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $51.89 billion, a P/E ratio of 48.34, a PEG ratio of 2.94 and a beta of 1.49. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

Insiders Place Their Bets

In related news, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was 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 approximately $802,671.87. This represents a 44.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

ADSK has been the subject of a number of research reports. KeyCorp upped their target price on shares of Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Robert W. Baird cut their price objective on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Morgan Stanley raised their target price on shares of Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Bank of America upped their price target on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Citigroup reduced their price objective on Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus 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.