TD Asset Management Inc. Decreases Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

TD Asset Management Inc. trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,182 shares of the software company’s stock after selling 29,290 shares during the period. TD Asset Management Inc. owned approximately 0.16% of Autodesk worth $102,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Starboard Value LP purchased a new stake in shares of Autodesk during the third quarter worth about $510,189,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Autodesk in the fourth quarter valued at about $154,408,000. Raymond James Financial Inc. acquired a new stake in Autodesk during the 4th quarter valued at approximately $116,828,000. Franklin Resources Inc. increased its holdings in Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after purchasing an additional 387,309 shares during the last quarter. Finally, State Street Corp raised its position in shares of Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Up 1.4 %

Shares of Autodesk stock opened at $273.08 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The business’s fifty day moving average price is $285.41 and its two-hundred day moving average price is $288.33. The company has a market capitalization of $58.17 billion, a P/E ratio of 54.18, a PEG ratio of 2.94 and a beta of 1.51.

Analyst Ratings Changes

Several research firms recently issued reports on ADSK. 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. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $280.00 to $400.00 in a research report on Tuesday, January 28th. KeyCorp increased their target price on Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Macquarie reiterated an “outperform” rating and issued a $360.00 price target on shares of Autodesk in a report on Friday, February 28th. Finally, Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $336.29.

Insider Activity

In related news, Director John T. Cahill acquired 2,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $534,200. The trade was a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

About Autodesk

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.