Mizuho Securities USA LLC Decreases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Mizuho Securities USA LLC reduced its stake in Autodesk by 15.5%, selling 3,162 shares, while still holding shares worth approximately $4.5 million.
• Institutional investors own 90.24% of Autodesk's stock, with notable increases in holdings from Brighton Jones LLC and Rockefeller Capital Management L.P. during the fourth quarter.
• Equities research analysts have set a consensus price target of $342.61 for Autodesk, with the stock receiving multiple "buy" and "overweight" ratings from various firms.

Mizuho Securities USA LLC lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,215 shares of the software company's stock after selling 3,162 shares during the period. Mizuho Securities USA LLC's holdings in Autodesk were worth $4,507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cheviot Value Management LLC acquired a new position in Autodesk during the first quarter worth about $27,000. Investment Management Corp VA ADV purchased a new position in shares of Autodesk in the 4th quarter worth $29,000. Costello Asset Management INC acquired a new position in shares of Autodesk in the 1st quarter valued at about $26,000. Close Asset Management Ltd purchased a new position in shares of Autodesk in the 1st quarter valued at $27,000. Finally, Abound Financial LLC acquired a new stake in shares of Autodesk in the first quarter valued at about $35,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Transactions at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction 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 sale, the executive vice president owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 9,391 shares of company stock valued at $2,909,885 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Autodesk Trading Down 1.0%

Shares of Autodesk stock traded down $2.84 on Thursday, reaching $284.17. 400,435 shares of the company's stock were exchanged, compared to its average volume of 1,599,030. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.62. The firm's 50-day moving average is $299.47 and its two-hundred day moving average is $286.18. The company has a market capitalization of $60.81 billion, a P/E ratio of 60.85, a price-to-earnings-growth ratio of 2.72 and a beta of 1.46.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ADSK shares. Rosenblatt Securities restated a "buy" rating and set a $340.00 price objective on shares of Autodesk in a research note on Tuesday, May 20th. Citigroup raised their target price on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Berenberg Bank raised shares of Autodesk from a "hold" rating to a "buy" rating and lifted their target price for the stock from $325.00 to $365.00 in a research report on Friday, June 27th. BMO Capital Markets boosted their price target on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a report on Friday, May 23rd. Finally, Barclays raised their target price on Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $342.61.

Autodesk 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.