Alyeska Investment Group L.P. Purchases 296,758 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Alyeska Investment Group L.P. grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 72.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 707,586 shares of the software company's stock after acquiring an additional 296,758 shares during the quarter. Autodesk comprises about 0.8% of Alyeska Investment Group L.P.'s investment portfolio, making the stock its 17th biggest holding. Alyeska Investment Group L.P. owned 0.33% of Autodesk worth $209,141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Golden State Wealth Management LLC bought a new position in shares of Autodesk during the 4th quarter valued at $25,000. Tradewinds Capital Management LLC grew its stake in shares of Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock valued at $30,000 after purchasing an additional 50 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in shares of Autodesk during the 4th quarter valued at about $30,000. Addison Advisors LLC boosted its holdings in shares of Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after buying an additional 74 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Autodesk during the fourth quarter valued at approximately $37,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Up 2.3 %

Shares of NASDAQ ADSK traded up $6.50 during mid-day trading on Thursday, reaching $289.86. The company had a trading volume of 531,655 shares, compared to its average volume of 1,618,056. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The business's 50-day moving average is $263.01 and its 200-day moving average is $286.13. The stock has a market cap of $61.74 billion, a price-to-earnings ratio of 57.51, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADSK. Mizuho cut their price objective on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Bank of America increased their target price on shares of Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Macquarie reiterated an "outperform" rating and issued a $360.00 price target on shares of Autodesk in a research report on Friday, February 28th. Wells Fargo & Company lowered their target price 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. Finally, Piper Sandler raised Autodesk from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $321.36.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at $802,671.87. The trade was a 44.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of the company's stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.14% of the company's stock.

Autodesk Company Profile

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.