Adage Capital Partners GP L.L.C. Sells 62,200 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Adage Capital Partners GP L.L.C. lowered its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 25.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,889 shares of the software company's stock after selling 62,200 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.08% of Autodesk worth $53,465,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC lifted its holdings in Autodesk by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company's stock worth $551,000 after buying an additional 35 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Autodesk by 1.0% in the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company's stock worth $1,000,000 after buying an additional 35 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Autodesk by 9.2% in the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company's stock valued at $130,000 after purchasing an additional 37 shares in the last quarter. Journey Strategic Wealth LLC raised its stake 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 purchasing an additional 37 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake 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 purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ADSK. Barclays cut their target price on shares of Autodesk from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. KeyCorp cut their target price on shares of Autodesk from $335.00 to $323.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Bank of America increased their price objective on shares of Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Citigroup dropped their price objective on shares of Autodesk from $361.00 to $339.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Macquarie reiterated an "outperform" rating and set a $360.00 price objective on shares of Autodesk in a research note on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $321.36.

Insider Activity

In other news, Director John T. Cahill bought 2,000 shares of the stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction dated 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 $802,671.87. This trade represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Stock Down 0.2 %

Shares of ADSK stock traded down $0.48 on Tuesday, reaching $270.99. 256,026 shares of the company's stock traded hands, compared to its average volume of 1,630,396. Autodesk, Inc. has a 12-month low of $195.32 and a 12-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 company has a market capitalization of $57.72 billion, a P/E ratio of 53.72, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The business's 50 day moving average price is $263.89 and its two-hundred day moving average price is $286.65.

Autodesk 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.