Alta Capital Management LLC Cuts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Alta Capital Management LLC trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSKFree Report) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,668 shares of the software company’s stock after selling 11,481 shares during the period. Autodesk comprises approximately 2.5% of Alta Capital Management LLC’s portfolio, making the stock its 17th largest position. Alta Capital Management LLC’s holdings in Autodesk were worth $38,921,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADSK. Massachusetts Financial Services Co. MA boosted its position in 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 valued at $849,858,000 after buying an additional 2,307,960 shares during the period. Norges Bank bought a new position in shares of Autodesk during the fourth quarter valued at about $632,566,000. Farallon Capital Management LLC bought a new position in shares of Autodesk during the fourth quarter valued at about $544,381,000. GAMMA Investing LLC raised its stake in shares of Autodesk by 27,505.2% during the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company’s stock valued at $384,985,000 after acquiring an additional 1,465,204 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake 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 valued at $652,127,000 after acquiring an additional 670,699 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 486 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $300.00, for a total transaction of $145,800.00. Following the completion of the transaction, the executive vice president now owns 28,345 shares of the company’s stock, valued at approximately $8,503,500. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at $802,671.87. This represents a 44.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,995 shares of company stock valued at $816,082. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of Autodesk from $357.00 to $361.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. lowered their price objective on shares of Autodesk from $300.00 to $280.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Bank of America upped their price objective on shares of Autodesk from $290.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, May 23rd. BMO Capital Markets upped their price objective on shares of Autodesk from $324.00 to $333.00 and gave the company a “market perform” rating in a research note on Friday, May 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price objective (up from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $337.45.

Read Our Latest Report on Autodesk

Autodesk Stock Performance

Shares of ADSK opened at $295.19 on Friday. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The company has a 50-day simple moving average of $285.54 and a two-hundred day simple moving average of $285.52. The firm has a market capitalization of $63.17 billion, a PE ratio of 63.21, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Autodesk Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ADSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autodesk, Inc. (NASDAQ:ADSKFree Report).

Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.