Phoenix Financial Ltd. Cuts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Phoenix Financial Ltd. reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 21.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,806 shares of the software company’s stock after selling 4,996 shares during the period. Phoenix Financial Ltd.’s holdings in Autodesk were worth $5,263,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADSK. China Universal Asset Management Co. Ltd. increased its stake in shares of Autodesk by 196.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after purchasing an additional 5,365 shares in the last quarter. Brookstone Capital Management increased its stake in Autodesk by 1,058.9% during the 4th quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after buying an additional 26,768 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Autodesk during the 4th quarter worth approximately $13,906,000. Robeco Institutional Asset Management B.V. increased its stake in Autodesk by 25.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company’s stock worth $88,711,000 after buying an additional 60,963 shares during the period. Finally, GAM Holding AG purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $3,453,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $263.53 on Thursday. The firm has a market capitalization of $56.13 billion, a P/E ratio of 52.29, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The business’s fifty day simple moving average is $274.39 and its 200 day simple moving average is $287.44. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Insiders Place Their Bets

In other news, Director John T. Cahill acquired 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at $534,200. This trade represents a ? increase in their ownership of the stock. The purchase 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 stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now 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 disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADSK. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and upped their target price for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Stifel Nicolaus reduced their target price on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on shares of Autodesk from $300.00 to $280.00 and set a “neutral” rating for the company in a research note on Wednesday. Robert W. Baird cut their price target on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Finally, Scotiabank cut their price target on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $331.45.

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.