Contour Asset Management LLC Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

Contour Asset Management LLC reduced its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 26.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,777 shares of the software company’s stock after selling 125,462 shares during the period. Autodesk makes up 2.9% of Contour Asset Management LLC’s holdings, making the stock its 15th biggest position. Contour Asset Management LLC’s holdings in Autodesk were worth $101,610,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ADSK. Golden State Wealth Management LLC purchased a new stake in shares of Autodesk in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC grew its holdings in 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 buying an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Autodesk in the 4th quarter valued at $30,000. Addison Advisors LLC increased its stake in shares of 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 acquiring an additional 74 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Autodesk during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research report on Tuesday, February 25th. Citigroup reduced their price target on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price objective on Autodesk from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Finally, DA Davidson lowered their price target on Autodesk from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.36.

Insider Buying and Selling

In other news, Director John T. Cahill bought 2,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the completion of 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 3,003 shares of the company’s stock, 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 owned by company insiders.

Autodesk Stock Down 0.3 %

ADSK stock opened at $279.10 on Wednesday. The company’s 50 day moving average is $262.82 and its two-hundred day moving average is $286.15. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $59.45 billion, a P/E ratio of 55.38, a PEG ratio of 2.94 and a beta of 1.47.

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.