Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,716 shares of the software company’s stock after selling 1,941 shares during the quarter. NFJ Investment Group LLC’s holdings in Autodesk were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ADSK. Vanguard Group Inc. lifted its stake in Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock valued at $6,025,331,000 after buying an additional 119,034 shares during the last quarter. Geode Capital Management LLC lifted its position in Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after purchasing an additional 45,623 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock valued at $849,858,000 after purchasing an additional 2,307,960 shares during the period. Invesco Ltd. grew its position in Autodesk by 8.7% in the 4th quarter. Invesco Ltd. now owns 2,383,255 shares of the software company’s stock worth $704,419,000 after purchasing an additional 191,666 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares during the period. Institutional investors own 90.24% of the company’s stock.

Autodesk Trading Down 2.0 %

Autodesk stock opened at $260.16 on Thursday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 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. The firm has a market capitalization of $55.41 billion, a price-to-earnings ratio of 51.62, a P/E/G ratio of 2.94 and a beta of 1.49. The company has a 50 day moving average price of $269.76 and a 200 day moving average price of $286.96.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction dated Friday, March 28th. The stock was 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 of the company’s stock, valued at $802,671.87. The trade was a 44.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $534,200. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ADSK shares. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. KeyCorp decreased their price target on Autodesk from $335.00 to $323.00 and set an “overweight” rating for the company in a research note on Wednesday. Robert W. Baird cut their price objective on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Mizuho decreased their target price on shares of Autodesk from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Barclays lowered their target price on shares of Autodesk from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $321.59.

Autodesk Company 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.