Farallon Capital Management LLC Invests $544.38 Million in Autodesk, Inc. (NASDAQ:ADSK)

Farallon Capital Management LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,841,800 shares of the software company's stock, valued at approximately $544,381,000. Autodesk comprises approximately 2.8% of Farallon Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Farallon Capital Management LLC owned 0.86% of Autodesk at the end of the most recent quarter.

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

Insider Transactions at Autodesk

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

Analysts Set New Price Targets

A number of research analysts have weighed in on ADSK shares. Scotiabank reduced their price target on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Robert W. Baird dropped their price objective on shares of Autodesk from $345.00 to $336.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus dropped their price objective on shares of Autodesk from $350.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company dropped their price objective 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, Rosenblatt Securities restated a "buy" rating and issued a $325.00 price target on shares of Autodesk in a research note on Tuesday, February 25th. Eight investment 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.com, the company has an average rating of "Moderate Buy" and an average price target of $321.36.

Autodesk Stock Performance

Shares of Autodesk stock traded up $3.81 during trading on Tuesday, hitting $297.01. 1,220,256 shares of the stock were exchanged, compared to its average volume of 1,620,065. The stock's fifty day moving average is $264.28 and its 200 day moving average is $286.17. The stock has a market cap of $63.54 billion, a PE ratio of 58.93, a P/E/G ratio of 2.94 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

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.