Autodesk, Inc. (NASDAQ:ADSK) is Ninety One UK Ltd's 4th Largest Position

Ninety One UK Ltd grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,146,677 shares of the software company's stock after buying an additional 79,900 shares during the period. Autodesk accounts for approximately 3.7% of Ninety One UK Ltd's portfolio, making the stock its 4th largest holding. Ninety One UK Ltd owned approximately 2.42% of Autodesk worth $1,347,400,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Autodesk by 406.8% in the fourth 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. Norges Bank purchased a new position in Autodesk during the 4th quarter valued at $632,566,000. Farallon Capital Management LLC purchased a new position in Autodesk during the 4th quarter valued at $544,381,000. GAMMA Investing LLC increased its position in Autodesk by 27,505.2% during the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock valued at $384,985,000 after purchasing an additional 1,465,204 shares during the period. Finally, Janus Henderson Group PLC increased its position in Autodesk by 43.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock valued at $652,127,000 after purchasing an additional 670,699 shares during the period. Institutional investors own 90.24% of the company's stock.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the 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 transaction, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is owned by corporate insiders.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded down $7.64 during trading on Wednesday, hitting $307.27. The company's stock had a trading volume of 2,559,839 shares, compared to its average volume of 1,487,402. The company has a 50-day moving average of $297.11 and a 200-day moving average of $285.88. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $65.76 billion, a price-to-earnings ratio of 65.80, a P/E/G ratio of 3.03 and a beta of 1.44.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Scotiabank reduced their price objective 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. Barclays upped their target price on shares of Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Oppenheimer reaffirmed an "outperform" rating and issued a $350.00 target price (up from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. KeyCorp reaffirmed an "overweight" rating and issued a $350.00 target price (up from $323.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Bank of America upped their target price on shares of Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $343.64.

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.