Nomura Holdings Inc. Reduces Position in Autodesk, Inc. $ADSK

Key Points

• Nomura Holdings Inc. reduced its stake in Autodesk, Inc. by 11.5%, selling 2,324 shares and holding 17,876 shares valued at approximately $4.68 million.
• Institutional investors own 90.24% of Autodesk's shares, with notable increases from firms like SouthState Corp, which boosted its stake by 500%.
• Several analysts have reiterated positive ratings on Autodesk stock, with price targets ranging from $320.00 to $380.00 and a consensus rating of "Moderate Buy".

Nomura Holdings Inc. cut its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,876 shares of the software company's stock after selling 2,324 shares during the quarter. Nomura Holdings Inc.'s holdings in Autodesk were worth $4,680,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ADSK. SouthState Corp boosted its position in shares of Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after purchasing an additional 80 shares during the period. Costello Asset Management INC acquired a new stake in shares of Autodesk in the 1st quarter valued at about $26,000. Close Asset Management Ltd acquired a new stake in shares of Autodesk in the 1st quarter valued at about $27,000. Cheviot Value Management LLC acquired a new stake in shares of Autodesk in the 1st quarter valued at about $27,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Autodesk in the 4th quarter valued at about $29,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $323.06, for a total value of $1,980,034.74. Following the completion of the transaction, the executive vice president directly owned 13,311 shares of the company's stock, valued at $4,300,251.66. This trade represents a 31.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the completion of the transaction, the executive vice president directly owned 80,255 shares of the company's stock, valued at $25,288,350.50. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,440 shares of company stock valued at $6,786,586 in the last ninety days. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets increased 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. DA Davidson reaffirmed a "buy" rating and set a $375.00 price objective on shares of Autodesk in a research report on Friday, August 29th. Rosenblatt Securities increased their price objective on Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. UBS Group increased their price objective on Autodesk from $370.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Robert W. Baird increased their price objective on Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $356.83.

Autodesk Stock Performance

Shares of ADSK stock traded up $6.44 during trading hours on Friday, reaching $326.37. 1,632,149 shares of the company's stock were exchanged, compared to its average volume of 1,784,814. The company has a market cap of $69.52 billion, a P/E ratio of 67.57, a price-to-earnings-growth ratio of 2.83 and a beta of 1.49. The company's 50 day moving average is $299.25 and its two-hundred day moving average is $285.46. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $326.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.65.

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.