Meritage Group LP Has $336.38 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Meritage Group LP trimmed its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,138,082 shares of the software company's stock after selling 169,715 shares during the quarter. Autodesk makes up approximately 8.0% of Meritage Group LP's portfolio, making the stock its 3rd biggest holding. Meritage Group LP owned approximately 0.53% of Autodesk worth $336,383,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ADSK. Golden State Wealth Management LLC purchased a new position in Autodesk in the 4th quarter worth approximately $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 acquiring an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Autodesk during the 4th quarter valued at about $30,000. Addison Advisors LLC increased its stake in Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after purchasing an additional 74 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Autodesk during the fourth quarter valued at approximately $37,000. 90.24% of the stock is currently owned by institutional investors.

Insider Activity at Autodesk

In other news, Director John T. Cahill purchased 2,000 shares of the company's stock in a transaction that occurred on 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 purchase, the director now owns 2,000 shares in the company, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the company'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 owns 3,003 shares in the company, valued at $802,671.87. The trade was a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Oppenheimer reissued an "outperform" rating on shares of Autodesk in a research report on Thursday. DA Davidson cut their price objective on Autodesk from $285.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley reduced their price objective on shares of Autodesk from $385.00 to $330.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Macquarie reaffirmed an "outperform" rating and set a $360.00 target price on shares of Autodesk in a research note on Friday, February 28th. Finally, Piper Sandler upgraded shares of Autodesk from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and an average target price of $321.36.

Autodesk Price Performance

Shares of Autodesk stock traded down $1.83 during trading on Friday, reaching $269.88. 452,270 shares of the stock traded hands, compared to its average volume of 1,635,268. The company has a market capitalization of $57.48 billion, a price-to-earnings ratio of 53.54, a P/E/G ratio of 2.94 and a beta of 1.49. The business has a fifty day simple moving average of $264.95 and a two-hundred day simple moving average of $286.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62.

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.