Los Angeles Capital Management LLC Lowers Position in Autodesk, Inc. (NASDAQ:ADSK)

Los Angeles Capital Management LLC trimmed its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 69.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,558 shares of the software company's stock after selling 54,419 shares during the quarter. Los Angeles Capital Management LLC's holdings in Autodesk were worth $6,167,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Spire Wealth Management increased its holdings in shares of Autodesk by 2.5% in the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after purchasing an additional 50 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Autodesk during the first quarter worth approximately $324,000. Cambridge Investment Research Advisors Inc. increased its stake in Autodesk by 1.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after acquiring an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Autodesk by 27.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after acquiring an additional 9,222 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Autodesk by 5.4% during the first quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after acquiring an additional 290 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

NASDAQ ADSK traded up $0.50 during trading on Thursday, reaching $301.48. The company's stock had a trading volume of 681,710 shares, compared to its average volume of 1,627,037. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $64.52 billion, a price-to-earnings ratio of 64.55, a P/E/G ratio of 2.89 and a beta of 1.44. Autodesk, Inc. has a twelve month low of $223.03 and a twelve month high of $326.62. The business's fifty day moving average price is $299.08 and its 200-day moving average price is $285.69.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ADSK. Royal Bank Of Canada reissued an "outperform" rating and set a $345.00 price objective (up from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Robert W. Baird boosted their price objective on Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Morgan Stanley reissued an "overweight" rating and set a $370.00 price objective (up from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Oppenheimer restated an "outperform" rating and set a $350.00 target price (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, BMO Capital Markets boosted their target price on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $342.61.

Insider Buying and Selling

In other Autodesk 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 transaction, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 9,391 shares of company stock valued at $2,909,885 in the last quarter. 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.