Ninety One North America Inc. Decreases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Ninety One North America Inc. lessened its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 221,562 shares of the software company's stock after selling 7,720 shares during the period. Autodesk accounts for about 3.9% of Ninety One North America Inc.'s portfolio, making the stock its 6th largest position. Ninety One North America Inc. owned approximately 0.10% of Autodesk worth $58,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in Autodesk during the fourth quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new position in Autodesk during the fourth quarter worth $30,000. Abound Financial LLC bought a new position in Autodesk during the first quarter worth $35,000. Hurley Capital LLC bought a new position in Autodesk during the fourth quarter worth $44,000. Finally, CoreCap Advisors LLC boosted its stake in Autodesk by 212.0% during the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock worth $46,000 after acquiring an additional 106 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

NASDAQ ADSK traded down $21.16 during trading hours on Thursday, reaching $286.11. 4,697,653 shares of the company were exchanged, compared to its average volume of 1,500,196. Autodesk, Inc. has a 1 year low of $223.03 and a 1 year high of $326.62. The business's 50 day simple moving average is $297.78 and its 200-day simple moving average is $286.03. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $61.23 billion, a P/E ratio of 61.27, a P/E/G ratio of 3.03 and a beta of 1.44.

Insider Transactions at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the transaction, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 9,391 shares of company stock worth $2,909,885 in the last three months. Company insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company restated an "overweight" rating and set a $360.00 price objective (up previously from $345.00) on shares of Autodesk in a report on Friday, May 23rd. Oppenheimer restated an "outperform" rating and set a $350.00 price objective (up previously from $300.00) on shares of Autodesk in a report on Friday, May 23rd. The Goldman Sachs Group upped their price objective on shares of Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Barclays upped their price objective on shares of Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Morgan Stanley restated an "overweight" rating and set a $370.00 price objective (up previously from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Autodesk has an average rating of "Moderate Buy" and an average price target of $343.64.

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.