Moore Capital Management LP Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Moore Capital Management LP lowered its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 32.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,703 shares of the software company's stock after selling 6,507 shares during the quarter. Moore Capital Management LP's holdings in Autodesk were worth $4,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in shares of Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after acquiring an additional 2,307,960 shares during the period. Norges Bank purchased a new position in shares of Autodesk during the fourth quarter worth approximately $632,566,000. Farallon Capital Management LLC purchased a new position in shares of Autodesk during the fourth quarter worth approximately $544,381,000. Janus Henderson Group PLC increased its position in shares of Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock worth $652,127,000 after acquiring an additional 670,699 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Autodesk by 45.1% during the fourth quarter. Franklin Resources Inc. now owns 2,102,836 shares of the software company's stock worth $621,535,000 after acquiring an additional 653,868 shares during the period. Institutional investors own 90.24% of the company's stock.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at approximately $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John T. Cahill acquired 2,000 shares of the business's stock in a transaction 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 acquisition, the director now directly owns 2,000 shares of the company's stock, valued at $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by insiders.

Autodesk Stock Performance

NASDAQ ADSK traded up $2.30 on Friday, reaching $298.08. 1,901,492 shares of the company's stock traded hands, compared to its average volume of 1,622,687. The firm has a market cap of $63.77 billion, a price-to-earnings ratio of 59.14, a P/E/G ratio of 2.94 and a beta of 1.47. The stock has a 50 day moving average price of $266.67 and a 200-day moving average price of $286.38. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Analyst Upgrades and Downgrades

ADSK has been the topic of several research reports. Citigroup cut their price objective on shares of Autodesk from $361.00 to $339.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. UBS Group lifted their price objective on shares of Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a report on Friday, February 28th. Mizuho cut their price objective on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus cut their price objective on shares of Autodesk from $350.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Barclays cut their price objective on shares of Autodesk from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.32.

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.