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

Sit Investment Associates Inc. cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.0% during the fourth quarter, Holdings Channel.com reports. The fund 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.

Several other large investors have also made changes to their positions in ADSK. Resona Asset Management Co. Ltd. purchased a new position in Autodesk in the 4th quarter worth approximately $19,832,000. Prudential PLC lifted its holdings in shares of Autodesk by 8.3% in the fourth quarter. Prudential PLC now owns 54,272 shares of the software company’s stock worth $16,041,000 after buying an additional 4,162 shares in the last quarter. Landscape Capital Management L.L.C. boosted its position in shares of Autodesk by 7.7% during the fourth quarter. Landscape Capital Management L.L.C. now owns 11,765 shares of the software company’s stock worth $3,477,000 after acquiring an additional 845 shares during the last quarter. Conquis Financial LLC purchased a new position in Autodesk during the fourth quarter valued at $473,000. Finally, Uniting Wealth Partners LLC bought a new stake in Autodesk in the 4th quarter valued at $296,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Down 4.5 %

Shares of ADSK opened at $245.51 on Friday. The firm has a market capitalization of $52.29 billion, a P/E ratio of 48.71, a P/E/G ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The firm has a fifty day moving average price of $280.12 and a 200-day moving average price of $288.20. The company has a current ratio of 0.65, a quick 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 acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $534,200. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction dated Friday, March 28th. The stock was 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 approximately $802,671.87. The trade was a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research analyst reports. DA Davidson raised their price objective on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. KeyCorp raised their price target on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $325.00 target price on shares of Autodesk in a research report on Tuesday, February 25th. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their target price for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Finally, Citigroup decreased their target price on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $336.29.

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.