Shell Asset Management Co. Reduces Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Shell Asset Management Co. decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,016 shares of the software company's stock after selling 1,576 shares during the period. Shell Asset Management Co.'s holdings in Autodesk were worth $3,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Autodesk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock valued at $6,025,331,000 after buying an additional 119,034 shares during the period. Geode Capital Management LLC increased its holdings in Autodesk by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock valued at $1,391,145,000 after buying an additional 45,623 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock valued at $849,858,000 after buying an additional 2,307,960 shares during the period. Northern Trust Corp increased its holdings in Autodesk by 20.6% during the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock valued at $727,933,000 after buying an additional 420,838 shares during the period. Finally, Invesco Ltd. boosted its stake in Autodesk by 8.7% in the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company's stock valued at $704,419,000 after acquiring an additional 191,666 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 2,452 shares of the company's 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 sale, the chief accounting officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the purchase, 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. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ADSK shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $340.00 price target on shares of Autodesk in a report on Tuesday. DA Davidson cut their price target on shares of Autodesk from $285.00 to $265.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. KeyCorp cut their price target on shares of Autodesk from $335.00 to $323.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Mizuho cut their price target on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Robert W. Baird lifted their price target on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Autodesk currently has an average rating of "Moderate Buy" and an average price target of $323.59.

Autodesk Stock Performance

ADSK traded down $0.06 on Tuesday, reaching $295.84. The stock had a trading volume of 1,388,214 shares, compared to its average volume of 1,624,307. 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 12-month low of $195.32 and a 12-month high of $326.62. The business's 50-day moving average price is $268.50 and its two-hundred day moving average price is $286.50. The company has a market cap of $63.29 billion, a P/E ratio of 58.70, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47.

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.