Tocqueville Asset Management L.P. Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Tocqueville Asset Management L.P. cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 15.0% in the first quarter, Holdings Channel reports. The fund owned 30,009 shares of the software company’s stock after selling 5,305 shares during the period. Tocqueville Asset Management L.P.’s holdings in Autodesk were worth $7,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farallon Capital Management LLC purchased a new stake in Autodesk during the fourth quarter worth approximately $544,381,000. GAMMA Investing LLC increased its holdings in shares of Autodesk by 27,505.2% in the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company’s stock valued at $384,985,000 after purchasing an additional 1,465,204 shares during the period. Nuveen LLC acquired a new position in Autodesk during the first quarter worth $278,383,000. Janus Henderson Group PLC grew its holdings in Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company’s stock worth $652,127,000 after acquiring an additional 670,699 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock worth $902,597,000 after purchasing an additional 667,763 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares of the company’s stock, valued at $6,123,600. The trade was a 14.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADSK has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on Autodesk from $324.00 to $333.00 and gave the stock a “market perform” rating in a research report on Friday, May 23rd. Loop Capital assumed coverage on Autodesk in a research note on Monday, July 21st. They set a “hold” rating and a $320.00 price target for the company. Macquarie restated an “outperform” rating and set a $360.00 price target on shares of Autodesk in a research note on Friday, July 11th. Berenberg Bank upgraded Autodesk from a “hold” rating to a “buy” rating and increased their target price for the company from $325.00 to $365.00 in a research note on Friday, June 27th. Finally, Citigroup increased their price target on Autodesk from $374.00 to $376.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $342.61.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $286.73 on Friday. The business’s fifty day moving average price is $298.96 and its two-hundred day moving average price is $285.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $61.36 billion, a PE ratio of 61.40, a P/E/G ratio of 2.76 and a beta of 1.46. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $326.62.

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.