Orion Portfolio Solutions LLC Cuts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Orion Portfolio Solutions LLC lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 54.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,166 shares of the software company’s stock after selling 26,078 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Autodesk were worth $6,552,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADSK. Golden State Wealth Management LLC bought a new position in Autodesk in the fourth quarter valued at $25,000. Tradewinds Capital Management LLC increased its position in shares of Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Autodesk during the 4th quarter valued at about $30,000. Addison Advisors LLC lifted its position in Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after buying an additional 74 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Autodesk in the fourth quarter worth approximately $37,000. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Autodesk

In related news, CAO Stephen W. Hope sold 2,452 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $534,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

NASDAQ ADSK opened at $261.63 on Friday. 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 stock has a market capitalization of $55.73 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 2.94 and a beta of 1.51. The business’s fifty day moving average price is $284.01 and its 200-day moving average price is $288.34.

Analyst Ratings Changes

Several brokerages have commented on ADSK. Citigroup lowered their price objective on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Morgan Stanley boosted their price objective on shares of Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Robert W. Baird decreased their target price on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $325.00 price target on shares of Autodesk in a research report on Tuesday, February 25th. Finally, Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.29.

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.