Sit Investment Associates Inc. Sells 2,100 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sit Investment Associates Inc. lowered its stake in Autodesk, Inc. (NASDAQ:ADSK) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,737 shares of the software company’s stock after selling 2,100 shares during the period. Sit Investment Associates Inc.’s holdings in Autodesk were worth $9,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in shares of Autodesk during the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC raised its position in shares of Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Autodesk in the 4th quarter valued at approximately $30,000. Addison Advisors LLC boosted its position in shares of Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after purchasing an additional 74 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Autodesk in the fourth quarter worth $37,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ADSK shares. Stifel Nicolaus dropped their target price on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Robert W. Baird cut their price objective on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Barclays lifted their target price on shares of Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 28th. DA Davidson upped their price target on Autodesk from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Finally, Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. Seven equities research 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.com, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $336.29.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 2,452 shares of the firm’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 of the company’s stock, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Cahill purchased 2,000 shares of the business’s stock in a transaction on Friday, March 21st. The shares were bought 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 trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by insiders.

Autodesk Trading Down 4.5 %

Shares of NASDAQ:ADSK opened at $245.51 on Friday. The stock’s 50-day simple moving average is $280.12 and its two-hundred day simple moving average is $288.20. The stock has a market capitalization of $52.29 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

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.