Avanza Fonder AB Trims Stake in Autodesk, Inc. (NASDAQ:ADSK)

Avanza Fonder AB trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 19,004 shares of the software company's stock after selling 1,465 shares during the period. Avanza Fonder AB's holdings in Autodesk were worth $5,092,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ADSK. Golden State Wealth Management LLC purchased a new position in Autodesk in the 4th quarter worth approximately $25,000. Investment Management Corp VA ADV purchased a new position in Autodesk in the 4th quarter worth approximately $29,000. Tradewinds Capital Management LLC raised its holdings in Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after acquiring an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Autodesk in the 4th quarter worth approximately $30,000. Finally, Addison Advisors LLC raised its holdings in Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after acquiring an additional 74 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Price Performance

Autodesk stock traded up $1.80 during mid-day trading on Thursday, hitting $298.57. The stock had a trading volume of 1,054,278 shares, compared to its average volume of 1,546,522. The firm has a market capitalization of $63.89 billion, a P/E ratio of 59.24, a P/E/G ratio of 2.94 and a beta of 1.45. 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 firm's 50 day moving average is $281.20 and its 200 day moving average is $285.58. Autodesk, Inc. has a one year low of $221.04 and a one year high of $326.62.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company restated an "overweight" rating and issued a $360.00 price objective (up from $345.00) on shares of Autodesk in a report on Friday, May 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $345.00 target price (up previously from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. BMO Capital Markets lifted their target price on shares of Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research report on Friday, May 23rd. Robert W. Baird lifted their target price on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Scotiabank cut their target price on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $337.45.

Insider Buying and Selling

In related news, Director John T. Cahill acquired 2,000 shares of the company's stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $267.10 per share, with a total value of $534,200.00. Following the acquisition, the director now directly owns 2,000 shares of the company's stock, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, 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 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 currently owned by insiders.

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.