American Century Companies Inc. Sells 18,756 Shares of Autodesk, Inc. $ADSK

Key Points

• American Century Companies Inc. reduced its stake in Autodesk, Inc. by 41.4% in the first quarter, selling 18,756 shares and now holding 26,552 shares valued at $6,951,000.
• Several hedge funds adjusted their positions in Autodesk, with Horizon Investments LLC increasing its holdings by 137.4% during the same period.
• Analysts have raised their target prices for Autodesk stock, with Barclays setting a new target of $355.00, reflecting a positive outlook for the company.

American Century Companies Inc. trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 41.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,552 shares of the software company's stock after selling 18,756 shares during the quarter. American Century Companies Inc.'s holdings in Autodesk were worth $6,951,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after acquiring an additional 397,458 shares during the last quarter. Ninety One UK Ltd increased its position in shares of Autodesk by 1.6% during the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after acquiring an additional 79,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock worth $902,597,000 after acquiring an additional 667,763 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Autodesk by 4.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock worth $785,470,000 after acquiring an additional 124,948 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position 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 worth $652,127,000 after acquiring an additional 670,699 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Up 9.1%

Shares of NASDAQ ADSK traded up $26.21 during mid-day trading on Monday, reaching $314.70. The company had a trading volume of 4,903,855 shares, compared to its average volume of 1,698,110. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.62. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.65 and a current ratio of 0.76. The stock has a market capitalization of $67.35 billion, a PE ratio of 65.16, a price-to-earnings-growth ratio of 3.03 and a beta of 1.49. The stock's 50 day moving average is $297.65 and its 200-day moving average is $284.58.

Insider Buying and Selling at Autodesk

In related news, EVP Rebecca Pearce sold 6,129 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the completion of the sale, the executive vice president owned 13,311 shares in the company, valued at approximately $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the sale, the director owned 4,393 shares of the company's stock, valued at approximately $1,427,725. The trade was a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,679 shares of company stock worth $5,916,595 over the last three months. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Robert W. Baird boosted their price objective on Autodesk from $345.00 to $363.00 and gave the company an "outperform" rating in a report on Friday. DA Davidson reaffirmed a "buy" rating and set a $375.00 target price on shares of Autodesk in a report on Friday. BMO Capital Markets boosted their price objective on Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research report on Friday, May 23rd. Citigroup boosted their price objective on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Royal Bank Of Canada upped their target price on Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $355.43.

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.