Starboard Value LP Has $306.80 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Starboard Value LP lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 44.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,038,000 shares of the software company's stock after selling 814,000 shares during the period. Autodesk accounts for 5.5% of Starboard Value LP's holdings, making the stock its 8th biggest position. Starboard Value LP owned about 0.48% of Autodesk worth $306,802,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ADSK. Vanguard Group Inc. grew its position in shares of Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock valued at $6,025,331,000 after purchasing an additional 119,034 shares during the last quarter. Geode Capital Management LLC grew its holdings in Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock valued at $1,391,145,000 after buying an additional 45,623 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position 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 worth $849,858,000 after buying an additional 2,307,960 shares during the period. Northern Trust Corp lifted its holdings in shares of 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. Finally, Invesco Ltd. lifted its holdings in shares of Autodesk by 8.7% during the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company's stock worth $704,419,000 after buying an additional 191,666 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Analyst Upgrades and Downgrades

ADSK has been the topic of several research reports. The Goldman Sachs Group upped their price target on shares of Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research note on Friday. Scotiabank decreased their target price on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. KeyCorp raised their target price on shares of Autodesk from $323.00 to $350.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley boosted their price target on Autodesk from $330.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price target on Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Autodesk has an average rating of "Moderate Buy" and an average target price of $334.45.

Autodesk Trading Down 0.8%

Shares of NASDAQ ADSK traded down $2.29 during trading on Friday, reaching $292.71. The company had a trading volume of 1,650,726 shares, compared to its average volume of 1,632,915. The stock has a market cap of $62.62 billion, a P/E ratio of 58.06, a PEG ratio of 2.94 and a beta of 1.47. The company's fifty day moving average price is $270.94 and its 200-day moving average price is $286.66. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Insider Buying and Selling

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the firm'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 acquisition, the director now owns 2,000 shares in the company, valued at approximately $534,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

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.