Tocqueville Asset Management L.P. Sells 5,305 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Autodesk by 15.0%, selling 5,305 shares in the 1st quarter, leaving it with a total of 30,009 shares valued at $7,856,000.
• Several other institutional investors have adjusted their positions, with Ethic Inc. increasing its holdings by 10.8% and Martin Currie Ltd. boosting its position by 30.5% during the same period.
• The current consensus rating for Autodesk stock is "Moderate Buy" with a price target of $342.61, following positive ratings revisions from multiple analysts including Berenberg Bank, Robert W. Baird, and Stifel Nicolaus.

Tocqueville Asset Management L.P. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,009 shares of the software company's stock after selling 5,305 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Autodesk were worth $7,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ethic Inc. raised its holdings in shares of Autodesk by 10.8% in the 1st quarter. Ethic Inc. now owns 25,058 shares of the software company's stock valued at $6,630,000 after purchasing an additional 2,446 shares during the period. Martin Currie Ltd. grew its position in shares of Autodesk by 30.5% during the 1st quarter. Martin Currie Ltd. now owns 236,345 shares of the software company's stock worth $61,875,000 after purchasing an additional 55,289 shares in the last quarter. Element Capital Management LLC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $2,633,000. Dimensional Fund Advisors LP boosted its position in shares of Autodesk by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,028,792 shares of the software company's stock worth $269,314,000 after acquiring an additional 25,477 shares in the last quarter. Finally, Horizon Investments LLC boosted its position in shares of Autodesk by 137.4% during the 1st quarter. Horizon Investments LLC now owns 10,430 shares of the software company's stock worth $2,731,000 after acquiring an additional 6,036 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

ADSK opened at $286.73 on Friday. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $61.36 billion, a P/E ratio of 61.40, a price-to-earnings-growth ratio of 2.76 and a beta of 1.46. The firm's 50-day moving average price is $298.96 and its 200-day moving average price is $285.79.

Insiders Place Their Bets

In related 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 approximately $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ADSK has been the subject of several research reports. Berenberg Bank raised shares of Autodesk from a "hold" rating to a "buy" rating and increased their price objective for the company from $325.00 to $365.00 in a research note on Friday, June 27th. Robert W. Baird lifted their price objective on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Rosenblatt Securities reissued a "buy" rating and set a $340.00 price target on shares of Autodesk in a research report on Tuesday, May 20th. Stifel Nicolaus boosted their price target on shares of Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, DA Davidson raised shares of Autodesk to a "strong-buy" rating in a research note on Tuesday, July 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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