Dorsal Capital Management LP Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Dorsal Capital Management LP purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 300,000 shares of the software company's stock, valued at approximately $88,671,000. Autodesk comprises about 2.1% of Dorsal Capital Management LP's portfolio, making the stock its 20th biggest position. Dorsal Capital Management LP owned about 0.14% of Autodesk at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Autodesk during the 4th quarter worth approximately $25,000. Tradewinds Capital Management LLC raised its stake in shares of 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 purchasing an additional 50 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in shares of Autodesk during the fourth quarter worth $30,000. Addison Advisors LLC boosted its stake in shares of Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock valued at $36,000 after purchasing an additional 74 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in Autodesk during the 4th quarter valued at $39,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the business's 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 transaction, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. The trade was a 44.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John T. Cahill purchased 2,000 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was acquired 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 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.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of analyst reports. DA Davidson decreased their price objective on shares of Autodesk from $285.00 to $265.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their price target on Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. KeyCorp lowered their price objective on Autodesk from $335.00 to $323.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. UBS Group upped their target price on Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Mizuho reduced their target price on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and an average price target of $321.36.

Autodesk Stock Performance

Autodesk stock traded up $7.30 during midday trading on Monday, reaching $294.78. 490,996 shares of the stock traded hands, compared to its average volume of 1,617,844. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week 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 firm has a market cap of $63.07 billion, a price-to-earnings ratio of 58.49, a PEG ratio of 2.94 and a beta of 1.47. The firm has a fifty day moving average price of $263.76 and a two-hundred day moving average price of $286.12.

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.