Kovitz Investment Group Partners LLC Decreases Position in Autodesk, Inc. (NASDAQ:ADSK)

Kovitz Investment Group Partners LLC decreased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 70.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,029 shares of the software company's stock after selling 19,562 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Autodesk were worth $2,373,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in Autodesk in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC boosted its holdings in Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after buying an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Autodesk during the fourth quarter valued at $30,000. Addison Advisors LLC increased its holdings in Autodesk by 157.4% in 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 in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Autodesk in the fourth quarter worth about $37,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Scotiabank reduced their target price on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. KeyCorp cut their target price on shares of Autodesk from $335.00 to $323.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Barclays decreased their price target on shares of Autodesk from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Oppenheimer reiterated an "outperform" rating on shares of Autodesk in a research note on Thursday, April 24th. Finally, Macquarie restated an "outperform" rating and issued a $360.00 target price on shares of Autodesk in a research report on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and an average price target of $321.36.

Autodesk Trading Down 0.3 %

ADSK stock traded down $0.76 during midday trading on Thursday, hitting $273.49. 1,302,800 shares of the company's stock were exchanged, compared to its average volume of 1,631,023. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The business has a 50-day simple moving average of $263.31 and a two-hundred day simple moving average of $286.47. The stock has a market capitalization of $58.25 billion, a PE ratio of 54.26, a P/E/G ratio of 2.94 and a beta of 1.49. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Activity at Autodesk

In other Autodesk news, 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 directly owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company's stock, valued at approximately $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is owned by insiders.

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.