Alta Capital Management LLC Has $38.92 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Alta Capital Management LLC lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,668 shares of the software company's stock after selling 11,481 shares during the quarter. Autodesk makes up about 2.5% of Alta Capital Management LLC's investment portfolio, making the stock its 17th largest holding. Alta Capital Management LLC owned approximately 0.07% of Autodesk worth $38,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake 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 worth $849,858,000 after purchasing an additional 2,307,960 shares during the last quarter. Norges Bank bought a new position in Autodesk during the fourth quarter worth $632,566,000. Farallon Capital Management LLC bought a new position in Autodesk during the fourth quarter worth $544,381,000. GAMMA Investing LLC lifted its stake in Autodesk by 27,505.2% in the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock valued at $384,985,000 after buying an additional 1,465,204 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock valued at $652,127,000 after acquiring an additional 670,699 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Trading Up 0.7%

Shares of NASDAQ:ADSK traded up $2.02 during midday trading on Friday, reaching $297.21. The company had a trading volume of 2,874,571 shares, compared to its average volume of 1,511,829. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year high of $326.62. The firm has a market cap of $63.60 billion, a price-to-earnings ratio of 63.64, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. The company has a fifty day simple moving average of $286.32 and a two-hundred day simple moving average of $285.51.

Insider Buying and Selling at Autodesk

In other Autodesk news, 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 transaction of $655,395.08. Following the transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at $802,671.87. The trade was a 44.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Rebecca Pearce sold 486 shares of Autodesk stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $300.00, for a total value of $145,800.00. Following the transaction, the executive vice president now directly owns 28,345 shares in the company, valued at approximately $8,503,500. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,995 shares of company stock valued at $816,082 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of analyst reports. Mizuho dropped their price objective 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. DA Davidson set a $305.00 target price on Autodesk and gave the stock a "neutral" rating in a report on Friday, May 23rd. Robert W. Baird boosted their price target on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Rosenblatt Securities restated a "buy" rating and set a $340.00 price objective on shares of Autodesk in a research report on Tuesday, May 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $350.00 price objective (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Autodesk has an average rating of "Moderate Buy" and an average target price of $337.45.

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.