Canada Pension Plan Investment Board Purchases 59,979 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Canada Pension Plan Investment Board lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 138.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,270 shares of the software company's stock after purchasing an additional 59,979 shares during the quarter. Canada Pension Plan Investment Board's holdings in Autodesk were worth $30,524,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research analyst reports. Barclays reduced their price objective on shares of Autodesk from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. UBS Group upped their price target on Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Piper Sandler raised shares of Autodesk from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Citigroup dropped their target price on shares of Autodesk from $361.00 to $339.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $321.36.

Autodesk Trading Down 0.2 %

Shares of NASDAQ:ADSK traded down $0.50 during trading on Friday, reaching $271.21. The stock had a trading volume of 325,338 shares, compared to its average volume of 1,634,722. The firm's fifty day moving average is $264.95 and its 200 day moving average is $286.62. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The stock has a market cap of $57.77 billion, a price-to-earnings ratio of 53.75, a P/E/G ratio of 2.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Insiders Place Their Bets

In other news, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $267.10 per share, with a total value of $534,200.00. Following the acquisition, the director now owns 2,000 shares of the company's stock, valued at approximately $534,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the 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 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 disclosure for this sale 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.