Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Starboard Value LP

Starboard Value LP reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 44.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 about 5.5% of Starboard Value LP's investment portfolio, making the stock its 8th biggest holding. Starboard Value LP owned about 0.48% of Autodesk worth $306,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its holdings in Autodesk by 196.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock worth $2,394,000 after purchasing an additional 5,365 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Autodesk in the fourth quarter valued at $13,906,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Autodesk by 25.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company's stock valued at $88,711,000 after buying an additional 60,963 shares in the last quarter. GAM Holding AG acquired a new stake in Autodesk during the 4th quarter valued at $3,453,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Autodesk by 8.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,398 shares of the software company's stock valued at $38,205,000 after purchasing an additional 9,877 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Price Performance

NASDAQ:ADSK traded down $2.91 during mid-day trading on Wednesday, hitting $292.93. The company's stock had a trading volume of 1,831,081 shares, compared to its average volume of 1,628,039. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $62.67 billion, a price-to-earnings ratio of 58.12, a P/E/G ratio of 2.94 and a beta of 1.47. The stock has a fifty day moving average of $269.48 and a 200-day moving average of $286.57.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADSK shares. Wells Fargo & Company cut their target price on shares of Autodesk from $350.00 to $345.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley cut their target price on shares of Autodesk from $385.00 to $330.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Bank of America boosted their price target on shares of Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Scotiabank lowered their price target on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Finally, Citigroup boosted their price target on shares of Autodesk from $346.00 to $374.00 and gave the company a "buy" rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus target price of $323.59.

Insider Buying and Selling

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at approximately $802,671.87. This represents a 44.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Cahill acquired 2,000 shares of the firm's stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company's stock, valued at approximately $534,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company's stock.

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.