Pictet Asset Management Holding SA boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 30.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,746,643 shares of the software company’s stock after acquiring an additional 643,267 shares during the quarter. Pictet Asset Management Holding SA owned 1.30% of Autodesk worth $534,014,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in ADSK. Sumitomo Mitsui Trust Group Inc. increased its position in Autodesk by 4.6% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,080,436 shares of the software company’s stock worth $210,058,000 after purchasing an additional 47,993 shares during the last quarter. Ethic Inc. lifted its holdings in shares of Autodesk by 0.3% during the 2nd quarter. Ethic Inc. now owns 31,833 shares of the software company’s stock valued at $6,189,000 after buying an additional 85 shares during the last quarter. Sawgrass Asset Management LLC grew its stake in shares of Autodesk by 0.3% in the 2nd quarter. Sawgrass Asset Management LLC now owns 28,132 shares of the software company’s stock valued at $5,469,000 after buying an additional 86 shares in the last quarter. Prasad Wealth Partners LLC increased its holdings in Autodesk by 5.2% in the second quarter. Prasad Wealth Partners LLC now owns 4,407 shares of the software company’s stock worth $857,000 after buying an additional 217 shares during the last quarter. Finally, Keystone Financial Group increased its holdings in Autodesk by 54.2% in the second quarter. Keystone Financial Group now owns 1,346 shares of the software company’s stock worth $262,000 after buying an additional 473 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.
Autodesk Price Performance
Shares of Autodesk stock opened at $251.66 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $216.31 and a 200-day simple moving average of $232.28. The stock has a market capitalization of $53.10 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 1.58 and a beta of 1.29. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09.
Insiders Place Their Bets
In related news, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 4,000 shares of the company’s stock, valued at approximately $756,800. This trade represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the transaction, the executive vice president owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 7,935 shares of company stock valued at $1,666,644 in the last three months. Company insiders own 0.14% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have issued reports on ADSK shares. The Goldman Sachs Group began coverage on shares of Autodesk in a research note on Tuesday. They issued a “neutral” rating and a $260.00 target price for the company. Citigroup raised their price target on shares of Autodesk from $246.00 to $252.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Robert W. Baird reduced their price objective on shares of Autodesk from $355.00 to $312.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. DA Davidson reiterated a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a report on Friday, May 29th. Finally, Bank of America reissued a “buy” rating and set a $300.00 target price on shares of Autodesk in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.07.
Read Our Latest Report on ADSK
About Autodesk
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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