Nomura Asset Management Co. Ltd. Lowers Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Nomura Asset Management Co. Ltd. lowered its stake in Autodesk, Inc. (NASDAQ:ADSK) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 90,067 shares of the software company’s stock after selling 203 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Autodesk were worth $26,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADSK. Vanguard Group Inc. grew its stake in shares of Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock worth $6,025,331,000 after acquiring an additional 119,034 shares during the last quarter. State Street Corp boosted its stake in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after purchasing an additional 288,931 shares in the last quarter. Principal Financial Group Inc. grew its position in Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares during the last quarter. Norges Bank bought a new stake in Autodesk during the 4th quarter valued at about $632,566,000. Finally, Starboard Value LP purchased a new position in Autodesk in the third quarter worth about $510,189,000. Institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ADSK shares. Citigroup cut their price target on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Robert W. Baird cut their target price on Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Bank of America boosted their price target on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Scotiabank dropped their price objective on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, KeyCorp boosted their target price on Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, February 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 presently has a consensus rating of “Moderate Buy” and an average target price of $336.29.

Autodesk Price Performance

Shares of Autodesk stock opened at $261.63 on Friday. The stock has a market cap of $55.73 billion, a P/E ratio of 51.91, a P/E/G ratio of 2.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s fifty day moving average is $284.01 and its 200 day moving average is $288.34. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62.

Insiders Place Their Bets

In other news, Director John T. Cahill purchased 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at $534,200. This trade represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the firm’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 sale, the chief accounting officer now owns 3,003 shares in the company, valued at $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. Company insiders own 0.14% of the company’s stock.

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.