Deutsche Bank AG Lowers Stake in Autodesk, Inc. (NASDAQ:ADSK)

Deutsche Bank AG reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 0.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,436,486 shares of the software company's stock after selling 2,414 shares during the period. Deutsche Bank AG owned about 0.67% of Autodesk worth $424,582,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ADSK. Massachusetts Financial Services Co. MA grew its holdings in Autodesk by 406.8% during the 4th 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 in the last quarter. Norges Bank purchased a new stake in Autodesk in the 4th quarter worth approximately $632,566,000. Franklin Resources Inc. grew its position in shares of Autodesk by 45.1% during the 4th quarter. Franklin Resources Inc. now owns 2,102,836 shares of the software company's stock valued at $621,535,000 after purchasing an additional 653,868 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Autodesk in the fourth quarter worth $154,408,000. Finally, Northern Trust Corp grew its position in Autodesk by 20.6% during the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock worth $727,933,000 after buying an additional 420,838 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Insider Activity at Autodesk

In other news, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Cahill purchased 2,000 shares of the business's stock in a transaction on Friday, March 21st. The stock was purchased 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 position. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADSK has been the subject of a number of research reports. Bank of America boosted their price target 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. 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 research note on Friday, February 28th. Scotiabank lowered their price target on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company cut their price objective on Autodesk from $350.00 to $345.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Mizuho cut their target price on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $321.36.

Autodesk Stock Performance

Shares of ADSK stock traded down $1.44 during trading hours on Wednesday, reaching $295.57. 495,005 shares of the company traded hands, compared to its average volume of 1,616,311. The firm has a 50-day moving average price of $265.01 and a 200 day moving average price of $286.25. The company has a market cap of $63.24 billion, a P/E ratio of 58.64, a P/E/G ratio of 2.94 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62.

About Autodesk

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.