IHT Wealth Management LLC Decreases Position in Autodesk, Inc. (NASDAQ:ADSK)

IHT Wealth Management LLC lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,982 shares of the software company’s stock after selling 320 shares during the quarter. IHT Wealth Management LLC’s holdings in Autodesk were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after purchasing an additional 2,307,960 shares in the last quarter. Norges Bank acquired a new position in shares of Autodesk during the fourth quarter worth about $632,566,000. Franklin Resources Inc. increased its stake in shares of Autodesk by 45.1% during the fourth quarter. Franklin Resources Inc. now owns 2,102,836 shares of the software company’s stock worth $621,535,000 after buying an additional 653,868 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Autodesk in the fourth quarter valued at approximately $154,408,000. Finally, Raymond James Financial Inc. purchased a new position in Autodesk in the fourth quarter worth approximately $116,828,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Down 0.7 %

ADSK opened at $269.93 on Friday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The business has a 50 day moving average price of $264.44 and a two-hundred day moving average price of $286.59. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $57.50 billion, a PE ratio of 53.56, a P/E/G ratio of 2.94 and a beta of 1.49.

Insider Transactions at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This represents a 44.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADSK. KeyCorp dropped their price objective on shares of Autodesk from $335.00 to $323.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus cut their price target on Autodesk from $350.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Barclays decreased their target price on Autodesk from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. lowered their price target on Autodesk from $300.00 to $280.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $321.36.

Autodesk 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.