Natixis Advisors LLC Cuts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Natixis Advisors LLC reduced its stake in Autodesk by 3.1%, selling 14,330 shares to hold 453,843 shares valued at approximately $118.82 million.
• Autodesk's stock price peaked at $326.62 over the last twelve months, with a current price of $306.61, and it has a market capitalization of $65.61 billion.
• Analyst upgrades have varied, with Berenberg Bank increasing Autodesk's price target from $325 to $365, while JPMorgan lowered it from $300 to $280, reflecting mixed sentiments in the market.

Natixis Advisors LLC trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 3.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 453,843 shares of the software company's stock after selling 14,330 shares during the quarter. Natixis Advisors LLC owned 0.21% of Autodesk worth $118,816,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after buying an additional 147 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Autodesk in the 4th quarter worth about $69,000. Level Four Advisory Services LLC purchased a new stake in Autodesk during the 4th quarter valued at about $240,000. Schroder Investment Management Group grew its position in Autodesk by 20.7% during the 4th quarter. Schroder Investment Management Group now owns 116,046 shares of the software company's stock valued at $34,300,000 after purchasing an additional 19,892 shares during the last quarter. Finally, RWA Wealth Partners LLC purchased a new stake in Autodesk during the 4th quarter valued at about $211,000. 90.24% of the stock is currently owned by institutional investors.

Insider Transactions at Autodesk

In other Autodesk 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 transaction 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 trade represents a 14.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 9,391 shares of company stock worth $2,909,885. Company insiders own 0.15% of the company's stock.

Autodesk Price Performance

ADSK traded down $5.03 during trading on Thursday, reaching $303.11. 1,491,655 shares of the company traded hands, compared to its average volume of 1,699,151. 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 12-month low of $223.03 and a 12-month high of $326.62. The firm has a fifty day simple moving average of $300.14 and a 200 day simple moving average of $286.25. The company has a market cap of $64.87 billion, a P/E ratio of 64.91, a PEG ratio of 2.96 and a beta of 1.44.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Rosenblatt Securities restated a "buy" rating and set a $340.00 target price on shares of Autodesk in a research note on Tuesday, May 20th. KeyCorp restated an "overweight" rating and set a $350.00 target price (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Robert W. Baird upped their target price on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. The Goldman Sachs Group upped their target price on shares of Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research note 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 company a "neutral" rating in a research note on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.