Polar Capital Holdings Plc Increases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Polar Capital Holdings Plc grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 141.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,750 shares of the software company's stock after buying an additional 18,600 shares during the period. Polar Capital Holdings Plc's holdings in Autodesk were worth $9,384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings in Autodesk by 406.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after purchasing an additional 2,307,960 shares during the period. Norges Bank bought a new stake in shares of Autodesk in the 4th quarter worth approximately $632,566,000. Farallon Capital Management LLC purchased a new stake in shares of Autodesk in the 4th quarter worth approximately $544,381,000. Janus Henderson Group PLC increased its position in Autodesk by 43.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock valued at $652,127,000 after buying an additional 670,699 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Autodesk by 45.1% during the fourth quarter. Franklin Resources Inc. now owns 2,102,836 shares of the software company's stock valued at $621,535,000 after buying an additional 653,868 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADSK shares. JPMorgan Chase & Co. reduced their price target on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Macquarie reiterated an "outperform" rating and issued a $360.00 target price on shares of Autodesk in a research note on Friday, February 28th. Rosenblatt Securities reiterated a "buy" rating and set a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on shares of Autodesk from $350.00 to $345.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Robert W. Baird upped their price objective on Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $321.32.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded down $2.18 during midday trading on Monday, hitting $295.90. The company had a trading volume of 1,635,002 shares, compared to its average volume of 1,622,936. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a fifty day moving average of $267.62 and a two-hundred day moving average of $286.44. The company has a market cap of $63.31 billion, a price-to-earnings ratio of 58.71, a PEG ratio of 2.94 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Insider Buying and Selling at Autodesk

In other news, Director John T. Cahill bought 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the purchase, the director now owns 2,000 shares in the company, valued at $534,200. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the sale, the chief accounting officer now 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 disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

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.