Korea Investment CORP Trims Position in Autodesk, Inc. $ADSK

Key Points

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Korea Investment CORP lessened its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 159,618 shares of the software company's stock after selling 19,061 shares during the period. Korea Investment CORP owned about 0.07% of Autodesk worth $41,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after buying an additional 397,458 shares in the last quarter. Ninety One UK Ltd lifted its position in Autodesk by 1.6% during the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock valued at $1,347,400,000 after purchasing an additional 79,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock valued at $902,597,000 after purchasing an additional 667,763 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Autodesk by 4.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after purchasing an additional 124,948 shares during the period. Finally, Northern Trust Corp lifted its position in Autodesk by 20.6% during the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock valued at $727,933,000 after purchasing an additional 420,838 shares during the period. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

ADSK stock traded up $4.17 during midday trading on Friday, reaching $290.23. 1,116,901 shares of the company's stock traded hands, compared to its average volume of 1,298,137. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $326.62. The stock has a market cap of $62.11 billion, a P/E ratio of 62.15, a PEG ratio of 2.75 and a beta of 1.46. 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 stock's 50-day moving average is $298.19 and its 200 day moving average is $285.27.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ADSK. Royal Bank Of Canada restated an "outperform" rating and set a $345.00 price objective (up previously from $313.0345) on shares of Autodesk in a research report on Friday, May 23rd. BMO Capital Markets increased their price objective on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research report on Friday, May 23rd. Wells Fargo & Company restated an "overweight" rating and set a $360.00 price objective (up previously from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Loop Capital initiated coverage on shares of Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 price objective on the stock. Finally, Robert W. Baird upped their target price on shares of Autodesk from $335.00 to $345.00 and gave the company an "outperform" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $343.04.

Insider Activity

In other news, EVP Rebecca Pearce sold 3,251 shares of the 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 directly owned 19,440 shares of the company's stock, valued at $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 9,391 shares of company stock valued at $2,909,885 over the last three months. Corporate insiders own 0.15% of the company's stock.

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.