Ninety One UK Ltd Reduces Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Ninety One UK Ltd trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,041,276 shares of the software company's stock after selling 74,058 shares during the quarter. Autodesk comprises about 2.9% of Ninety One UK Ltd's investment portfolio, making the stock its 5th largest holding. Ninety One UK Ltd owned approximately 1.89% of Autodesk worth $983,970,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Acadian Asset Management LLC lifted its stake in shares of Autodesk by 351.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company's stock valued at $775,000 after purchasing an additional 2,820 shares during the period. Panagora Asset Management Inc. increased its holdings in Autodesk by 71.7% in the first quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company's stock worth $960,000 after purchasing an additional 1,871 shares in the last quarter. Cetera Investment Advisers lifted its stake in Autodesk by 3.6% in the first quarter. Cetera Investment Advisers now owns 4,691 shares of the software company's stock valued at $1,006,000 after buying an additional 164 shares during the period. Moors & Cabot Inc. bought a new position in shares of Autodesk during the 1st quarter worth approximately $218,000. Finally, Dakota Wealth Management grew its position in shares of Autodesk by 18.0% during the 1st quarter. Dakota Wealth Management now owns 1,915 shares of the software company's stock worth $411,000 after buying an additional 292 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Autodesk from $220.00 to $270.00 and gave the company a "neutral" rating in a research report on Friday, March 1st. Stifel Nicolaus restated a "buy" rating and set a $316.00 price target on shares of Autodesk in a research note on Friday, April 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $320.00 price objective on shares of Autodesk in a research note on Monday, April 1st. Piper Sandler Companies boosted their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, March 1st. Finally, Rosenblatt Securities upped their target price on shares of Autodesk from $265.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Autodesk currently has a consensus rating of "Moderate Buy" and a consensus target price of $272.44.

Autodesk Stock Performance

NASDAQ ADSK traded down $4.29 during trading hours on Thursday, reaching $210.63. 4,608,891 shares of the company were exchanged, compared to its average volume of 1,420,664. The stock has a market capitalization of $45.05 billion, a P/E ratio of 51.05, a P/E/G ratio of 3.14 and a beta of 1.43. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. Autodesk, Inc. has a 1 year low of $188.38 and a 1 year high of $279.53. The business's 50 day simple moving average is $253.88 and its 200-day simple moving average is $235.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business posted $1.26 EPS. Autodesk's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Autodesk, Inc. will post 5.38 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other news, Director Stacy J. Smith sold 7,554 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $244.00, for a total transaction of $1,843,176.00. Following the completion of the transaction, the director now owns 19,934 shares in the company, valued at approximately $4,863,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stacy J. Smith sold 7,554 shares of the firm's stock in a transaction on Friday, January 19th. The stock was sold at an average price of $244.00, for a total value of $1,843,176.00. Following the completion of the transaction, the director now directly owns 19,934 shares of the company's stock, valued at $4,863,896. The disclosure for this sale can be found here. Insiders have sold a total of 46,220 shares of company stock worth $11,933,231 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

About Autodesk

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.