Contour Asset Management LLC Sells 125,462 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Contour Asset Management LLC cut its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 26.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 343,777 shares of the software company's stock after selling 125,462 shares during the quarter. Autodesk accounts for 2.9% of Contour Asset Management LLC's portfolio, making the stock its 15th largest position. Contour Asset Management LLC owned about 0.16% of Autodesk worth $101,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADSK. Principal Financial Group Inc. boosted its position in shares of Autodesk by 12.6% during 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 purchasing an additional 245,816 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Autodesk by 7.2% during the fourth quarter. Nordea Investment Management AB now owns 17,498 shares of the software company's stock worth $5,199,000 after buying an additional 1,174 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its position in Autodesk by 4.1% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 4,534 shares of the software company's stock worth $1,340,000 after buying an additional 178 shares during the last quarter. One Wealth Capital Management LLC bought a new position in shares of Autodesk in the fourth quarter valued at $264,000. Finally, Range Financial Group LLC acquired a new stake in shares of Autodesk during the 4th quarter valued at $276,000. Institutional investors own 90.24% of the company's stock.

Insiders Place Their Bets

In other news, Director John T. Cahill purchased 2,000 shares of the firm's stock in a transaction on Friday, March 21st. The stock was bought 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 approximately $534,200. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction dated Friday, March 28th. The stock was 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. The trade was a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Robert W. Baird cut their target price on Autodesk from $345.00 to $336.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Morgan Stanley cut their price objective on Autodesk from $385.00 to $330.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus dropped their target price on shares of Autodesk from $350.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Rosenblatt Securities restated a "buy" rating and set a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Autodesk currently has a consensus rating of "Moderate Buy" and a consensus target price of $321.36.

Autodesk Stock Down 0.7 %

Shares of ADSK traded down $2.14 during trading hours on Friday, hitting $287.48. 906,923 shares of the company were exchanged, compared to its average volume of 1,619,796. 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 cap of $61.23 billion, a PE ratio of 57.04, a PEG ratio of 2.94 and a beta of 1.47. The firm's 50 day moving average is $263.76 and its 200-day moving average is $286.12. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62.

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.