Royal Bank of Canada Buys 181,835 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Royal Bank of Canada increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 30.6% during the 4th quarter, Holdings Channel reports. The fund owned 776,432 shares of the software company’s stock after acquiring an additional 181,835 shares during the period. Royal Bank of Canada’s holdings in Autodesk were worth $229,491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of Autodesk in the fourth quarter valued at $25,000. Tradewinds Capital Management LLC lifted its stake in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Autodesk in the fourth quarter valued at $30,000. Addison Advisors LLC lifted its stake in shares of Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after buying an additional 74 shares in the last quarter. Finally, Sierra Ocean LLC bought a new position in shares of Autodesk in the fourth quarter valued at $39,000. 90.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Autodesk from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. UBS Group raised their price target on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Macquarie reissued an “outperform” rating and set a $360.00 price target on shares of Autodesk in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on shares of Autodesk from $300.00 to $280.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup dropped their price target on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.32.

Autodesk Stock Performance

NASDAQ ADSK opened at $298.08 on Friday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a 50-day simple moving average of $267.62 and a 200 day simple moving average of $286.42. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $63.77 billion, a PE ratio of 59.14, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47.

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $534,200. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by corporate insiders.

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.