SEB Asset Management AB acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 435,968 shares of the software company’s stock, valued at approximately $104,371,000. SEB Asset Management AB owned approximately 0.21% of Autodesk as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Torren Management LLC purchased a new position in Autodesk during the fourth quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Autodesk in the third quarter worth approximately $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Autodesk in the fourth quarter worth $25,000. Archer Investment Corp increased its stake in shares of Autodesk by 112.2% in the fourth quarter. Archer Investment Corp now owns 87 shares of the software company’s stock worth $26,000 after purchasing an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc bought a new stake in shares of Autodesk during the 4th quarter valued at $27,000. 90.24% of the stock is currently owned by institutional investors.
Autodesk Price Performance
Shares of NASDAQ:ADSK opened at $218.35 on Friday. The firm has a market cap of $46.07 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 1.34 and a beta of 1.32. The firm has a fifty day moving average price of $217.43 and a 200 day moving average price of $238.34. Autodesk, Inc. has a fifty-two week low of $185.50 and a fifty-two week high of $329.09. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ADSK. UBS Group restated a “buy” rating on shares of Autodesk in a research note on Friday, May 29th. Rosenblatt Securities reissued a “buy” rating and set a $330.00 price target on shares of Autodesk in a report on Monday, June 1st. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Barclays dropped their price objective on Autodesk from $315.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Finally, Loop Capital cut their target price on Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.10.
Check Out Our Latest Research Report on ADSK
Insider Transactions at Autodesk
In other news, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director owned 4,000 shares of the company’s stock, valued at approximately $756,800. This represents a 100.00% 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, EVP Janesh Moorjani bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the transaction, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This represents a 5.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is currently owned by insiders.
Autodesk Profile
Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.
The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.
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