Light Street Capital Management LLC Has $15.06 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Light Street Capital Management LLC lessened its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,956 shares of the software company's stock after selling 14,157 shares during the quarter. Autodesk makes up approximately 2.8% of Light Street Capital Management LLC's holdings, making the stock its 13th largest holding. Light Street Capital Management LLC's holdings in Autodesk were worth $15,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new stake in Autodesk in the 4th quarter worth about $25,000. Tradewinds Capital Management LLC lifted its stake in shares of Autodesk by 100.0% in the 4th 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. acquired a new position in shares of Autodesk in the 4th quarter valued at about $30,000. Addison Advisors LLC lifted its stake in shares of Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company's stock valued at $36,000 after purchasing an additional 74 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Autodesk during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

NASDAQ:ADSK traded up $2.30 during midday trading on Friday, reaching $298.08. 1,901,492 shares of the company traded hands, compared to its average volume of 1,622,667. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The firm has a market capitalization of $63.77 billion, a price-to-earnings ratio of 59.14, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a fifty day moving average price of $267.62 and a 200 day moving average price of $286.44.

Analysts Set New Price Targets

Several equities research analysts recently commented on ADSK shares. Morgan Stanley dropped their target price on Autodesk from $385.00 to $330.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson dropped their target price on Autodesk from $285.00 to $265.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company dropped their price objective on Autodesk from $350.00 to $345.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Rosenblatt Securities restated a "buy" rating and set a $325.00 price objective on shares of Autodesk in a report on Tuesday, February 25th. Finally, Stifel Nicolaus dropped their price objective on Autodesk from $350.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $321.32.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were 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 approximately $802,671.87. The trade was a 44.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

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.