Ninety One North America Inc. Sells 5,019 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Ninety One North America Inc. decreased its position in Autodesk, Inc. (NASDAQ:ADSK) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 229,282 shares of the software company’s stock after selling 5,019 shares during the period. Autodesk accounts for about 4.2% of Ninety One North America Inc.’s investment portfolio, making the stock its 5th biggest holding. Ninety One North America Inc.’s holdings in Autodesk were worth $67,769,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ADSK. Starboard Value LP acquired a new position in Autodesk in the 3rd quarter valued at approximately $510,189,000. International Assets Investment Management LLC grew its holdings in shares of Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after acquiring an additional 566,826 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Autodesk by 394.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after acquiring an additional 452,728 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Autodesk by 36.5% during the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after acquiring an additional 387,309 shares in the last quarter. Finally, State Street Corp boosted its position in Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADSK shares. Rosenblatt Securities upped their target price on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Robert W. Baird raised their price objective on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a research report on Friday, November 29th. UBS Group began coverage on shares of Autodesk in a report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target on the stock. Finally, Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $280.00 to $400.00 in a report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $333.77.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Autodesk Trading Up 0.2 %

NASDAQ ADSK opened at $306.98 on Tuesday. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $66.00 billion, a P/E ratio of 60.97, a P/E/G ratio of 3.67 and a beta of 1.43. The stock’s 50-day moving average is $299.08 and its 200-day moving average is $279.55.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the firm earned $1.33 EPS. Autodesk’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

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.