Mercer Global Advisors Inc. ADV Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Mercer Global Advisors Inc. ADV bought a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,914 shares of the software company's stock, valued at approximately $7,068,000.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock worth $603,947,000 after acquiring an additional 245,816 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company's stock valued at $413,405,000 after buying an additional 387,309 shares during the last quarter. GAMMA Investing LLC increased its holdings in Autodesk by 14.5% in the fourth quarter. GAMMA Investing LLC now owns 5,327 shares of the software company's stock worth $1,575,000 after buying an additional 674 shares during the last quarter. Everence Capital Management Inc. raised its position in Autodesk by 71.3% during the fourth quarter. Everence Capital Management Inc. now owns 4,540 shares of the software company's stock valued at $1,342,000 after acquiring an additional 1,890 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Autodesk in the fourth quarter worth approximately $37,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus cut their target price on shares of Autodesk from $350.00 to $310.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. DA Davidson decreased their target price on Autodesk from $285.00 to $265.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Oppenheimer reiterated an "outperform" rating on shares of Autodesk in a report on Thursday, April 24th. Bank of America lifted their target price on Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $321.36.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 2,452 shares of the company's 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 transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John T. Cahill purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now owns 2,000 shares of the company's stock, valued at $534,200. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is owned by insiders.

Autodesk Stock Performance

Shares of Autodesk stock traded up $4.81 during trading on Wednesday, hitting $283.45. 1,271,170 shares of the stock were exchanged, compared to its average volume of 1,623,226. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $60.37 billion, a price-to-earnings ratio of 56.24, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company has a fifty day moving average price of $262.82 and a 200-day moving average price of $286.15.

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.