Voloridge Investment Management LLC Cuts Position in Autodesk, Inc. (NASDAQ:ADSK)

Voloridge Investment Management LLC decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 55.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,412 shares of the software company's stock after selling 107,339 shares during the quarter. Voloridge Investment Management LLC's holdings in Autodesk were worth $25,541,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in Autodesk in the 4th quarter valued at approximately $25,000. Tradewinds Capital Management LLC lifted its holdings in shares of Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Autodesk during the fourth quarter valued at $30,000. Addison Advisors LLC boosted its position in shares of Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock valued at $36,000 after buying an additional 74 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in Autodesk in the 4th quarter worth about $39,000. Institutional investors own 90.24% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $340.00 price target on shares of Autodesk in a report on Tuesday, May 20th. Royal Bank of Canada restated an "outperform" rating and issued a $345.00 target price (up previously from $313.03) on shares of Autodesk in a report on Friday. Robert W. Baird boosted 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. Bank of America raised their price target on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Wells Fargo & Company reiterated 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. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $337.36.

Insider Activity

In related news, Director John T. Cahill acquired 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at approximately $802,671.87. This represents a 44.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Autodesk Price Performance

Autodesk stock traded up $3.03 during mid-day trading on Tuesday, hitting $298.38. The stock had a trading volume of 502,116 shares, compared to its average volume of 1,634,560. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. 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 has a market capitalization of $63.84 billion, a P/E ratio of 59.23, a P/E/G ratio of 2.94 and a beta of 1.47. The firm's 50 day moving average is $272.19 and its 200 day moving average is $286.37.

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.