Capital Research Global Investors Sells 413,882 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Capital Research Global Investors cut its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 41.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 578,776 shares of the software company's stock after selling 413,882 shares during the period. Capital Research Global Investors owned approximately 0.27% of Autodesk worth $171,078,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ADSK. Principal Financial Group Inc. raised its holdings in Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock valued at $603,947,000 after acquiring an additional 245,816 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Autodesk by 164.0% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 227 shares of the software company's stock worth $63,000 after purchasing an additional 141 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its position in shares of Autodesk by 11.1% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 1,882 shares of the software company's stock worth $518,000 after purchasing an additional 188 shares during the period. World Investment Advisors LLC acquired a new position in Autodesk in the third quarter valued at about $3,923,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Autodesk during the third quarter worth about $4,751,000. 90.24% of the stock is owned by institutional investors.

Insider Transactions at Autodesk

In other Autodesk news, Director John T. Cahill bought 2,000 shares of the stock in a transaction on Friday, March 21st. The stock was 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 owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. The trade was a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

ADSK has been the subject of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Autodesk from $385.00 to $330.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Robert W. Baird reduced their target price on Autodesk from $345.00 to $336.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Piper Sandler raised Autodesk from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Oppenheimer reiterated an "outperform" rating on shares of Autodesk in a research report on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of Autodesk from $350.00 to $345.00 and set an "overweight" rating on the stock in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $321.36.

Autodesk Trading Down 0.7 %

ADSK stock traded down $1.78 during midday trading on Friday, hitting $269.93. The stock had a trading volume of 1,308,090 shares, compared to its average volume of 1,636,255. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market cap of $57.50 billion, a P/E ratio of 53.56, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The business has a fifty day moving average price of $264.44 and a two-hundred day moving average price of $286.59. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

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.