Autodesk, Inc. (NASDAQ:ADSK) Position Lowered by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC decreased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,648 shares of the software company’s stock after selling 50 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Autodesk were worth $487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADSK. Massachusetts Financial Services Co. MA raised its stake 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 worth $849,858,000 after acquiring an additional 2,307,960 shares during the period. Norges Bank acquired a new stake in Autodesk during the fourth quarter worth about $632,566,000. Farallon Capital Management LLC acquired a new stake in Autodesk during the fourth quarter worth about $544,381,000. Janus Henderson Group PLC raised its stake in Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company’s stock worth $652,127,000 after acquiring an additional 670,699 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock worth $902,597,000 after acquiring an additional 667,763 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADSK. Barclays dropped their price objective 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. Macquarie restated an “outperform” rating and issued a $360.00 price target on shares of Autodesk in a research note on Friday, February 28th. Stifel Nicolaus dropped their price target on shares of Autodesk from $350.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Oppenheimer restated an “outperform” rating on shares of Autodesk in a research note on Friday. Finally, Bank of America raised their price target on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. 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, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $323.59.

Insider Activity at Autodesk

In related news, 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the purchase, the director now directly 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. Company insiders own 0.15% of the company’s stock.

Autodesk Price Performance

NASDAQ ADSK opened at $295.00 on Friday. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month 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 capitalization of $63.11 billion, a PE ratio of 58.53, a P/E/G ratio of 2.94 and a beta of 1.47. The company’s 50 day simple moving average is $270.94 and its 200 day simple moving average is $286.66.

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.