Martin Currie Ltd. Lowers Stake in Autodesk, Inc. (NASDAQ:ADSK)

Martin Currie Ltd. decreased its position in Autodesk, Inc. (NASDAQ:ADSK) by 14.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,056 shares of the software company’s stock after selling 31,779 shares during the quarter. Autodesk accounts for approximately 2.0% of Martin Currie Ltd.’s portfolio, making the stock its 19th largest position. Martin Currie Ltd.’s holdings in Autodesk were worth $53,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ADSK. Norges Bank purchased a new stake in Autodesk during the fourth quarter worth about $632,566,000. Starboard Value LP acquired a new stake in Autodesk during the 3rd quarter worth approximately $510,189,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Autodesk in the 4th quarter valued at approximately $154,408,000. Raymond James Financial Inc. acquired a new position in shares of Autodesk in the fourth quarter worth $116,828,000. Finally, Franklin Resources Inc. increased its position 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 during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Down 3.0 %

Shares of NASDAQ:ADSK opened at $261.63 on Friday. The company has a market cap of $55.73 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm’s 50-day simple moving average is $284.01 and its 200-day simple moving average is $288.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ADSK shares. Bank of America lifted their target price on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. KeyCorp lifted their price objective on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and set a $325.00 target price on shares of Autodesk in a research note on Tuesday, February 25th. Barclays lifted their price target on shares of Autodesk from $355.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Autodesk has an average rating of “Moderate Buy” and a consensus target price of $336.29.

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.