DnB Asset Management AS Has $11.50 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

DnB Asset Management AS boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,921 shares of the software company’s stock after buying an additional 1,830 shares during the quarter. DnB Asset Management AS’s holdings in Autodesk were worth $11,504,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new position in shares of Autodesk during the fourth quarter valued at $25,000. Tradewinds Capital Management LLC increased its holdings in Autodesk by 100.0% in the fourth 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 during the period. Mizuho Securities Co. Ltd. bought a new position in Autodesk during the 4th quarter worth $30,000. Addison Advisors LLC lifted its holdings in Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after buying an additional 74 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Autodesk in the 4th quarter valued at about $37,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADSK shares. Scotiabank cut their price objective on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. UBS Group upped their price objective on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Bank of America lifted their target price on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. KeyCorp upped their price target on shares of Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, DA Davidson boosted their price objective on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average price target of $336.29.

Insider Transactions at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the 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 completion of the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $261.63 on Friday. The firm has a market cap of $55.73 billion, a price-to-earnings ratio of 51.91, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The stock has a fifty day simple moving average of $284.01 and a two-hundred day simple moving average of $288.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

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.