Weiss Asset Management LP acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK – Free Report) during the first quarter, HoldingsChannel reports. The institutional investor acquired 35,656 shares of the software company’s stock, valued at approximately $8,536,000.
Several other large investors have also modified their holdings of the stock. OMERS ADMINISTRATION Corp raised its stake in Autodesk by 5.1% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 47,464 shares of the software company’s stock worth $11,363,000 after acquiring an additional 2,286 shares in the last quarter. Van Diest Capital LLC boosted its stake in Autodesk by 166.3% in the first quarter. Van Diest Capital LLC now owns 3,494 shares of the software company’s stock valued at $836,000 after acquiring an additional 2,182 shares in the last quarter. Lombard Odier Asset Management Europe Ltd boosted its stake in Autodesk by 20.6% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 57,391 shares of the software company’s stock valued at $13,739,000 after acquiring an additional 9,794 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Autodesk by 591.3% during the first quarter. Renaissance Technologies LLC now owns 285,688 shares of the software company’s stock worth $68,394,000 after purchasing an additional 244,360 shares during the last quarter. Finally, Modern Wealth Management LLC grew its holdings in shares of Autodesk by 18.8% during the first quarter. Modern Wealth Management LLC now owns 2,636 shares of the software company’s stock worth $627,000 after purchasing an additional 418 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.
Autodesk Price Performance
Shares of NASDAQ:ADSK opened at $209.75 on Friday. The company has a 50-day simple moving average of $214.93 and a 200-day simple moving average of $235.32. Autodesk, Inc. has a one year low of $185.50 and a one year 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. The stock has a market capitalization of $44.26 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.29 and a beta of 1.32.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on ADSK shares. Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Bank of America restated a “buy” rating and set a $300.00 price target on shares of Autodesk in a research note on Tuesday, May 12th. BMO Capital Markets cut their price target on Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a research report on Friday, May 29th. DA Davidson reiterated a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a research note on Friday, May 29th. Finally, Zacks Research downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $323.40.
View Our Latest Report on ADSK
Insiders Place Their Bets
In related news, Director Stacy J. Smith bought 3,435 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director owned 26,517 shares in the company, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average price of $189.20 per share, with a total value of $378,400.00. Following the purchase, the director directly owned 4,000 shares of the company’s stock, valued at approximately $756,800. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is owned by company 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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