Element Capital Management LLC Purchases New Holdings in Autodesk, Inc. $ADSK

Key Points

• Element Capital Management LLC acquired 10,058 shares of Autodesk, valued at approximately $2.63 million, during the 1st quarter.
• Autodesk's stock is currently trading at approximately $286.73, with a 52-week range between $232.67 and $326.62 and a market capitalization of $61.36 billion.
• Analysts have recently upgraded their price targets for Autodesk, with projections ranging from $350.00 to $376.00 and a consensus rating of "Moderate Buy."

Element Capital Management LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,058 shares of the software company's stock, valued at approximately $2,633,000.

A number of other institutional investors have also recently added to or reduced their stakes in ADSK. Financial Network Wealth Advisors LLC lifted its position in shares of Autodesk by 34.9% during the first quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock worth $37,000 after purchasing an additional 37 shares during the last quarter. Oregon Pacific Wealth Management LLC boosted its holdings in Autodesk by 4.0% in the first quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock worth $262,000 after purchasing an additional 38 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in Autodesk by 30.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock worth $46,000 after purchasing an additional 41 shares during the period. Johnson Financial Group Inc. raised its holdings in shares of Autodesk by 30.2% during the fourth quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock worth $56,000 after purchasing an additional 42 shares during the period. Finally, Sky Investment Group LLC raised its holdings in shares of Autodesk by 0.5% during the first quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock worth $2,183,000 after purchasing an additional 42 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Bank of America lifted their target price on Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. BMO Capital Markets increased their price objective on shares of Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a report on Friday, May 23rd. Berenberg Bank upgraded shares of Autodesk from a "hold" rating to a "buy" rating and upped their target price for the stock from $325.00 to $365.00 in a research report on Friday, June 27th. Robert W. Baird upped their target price on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Macquarie restated an "outperform" rating and issued a $360.00 target price on shares of Autodesk in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $342.61.

Insider Activity

In other news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the transaction, the executive vice president directly owned 19,440 shares in the company, valued at $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 9,391 shares of company stock valued at $2,909,885 in the last ninety days. Company insiders own 0.15% of the company's stock.

Autodesk Price Performance

Shares of Autodesk stock traded down $0.41 on Tuesday, hitting $289.24. The company had a trading volume of 1,169,960 shares, compared to its average volume of 1,595,817. The business has a 50-day simple moving average of $298.81 and a 200-day simple moving average of $285.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $61.90 billion, a PE ratio of 61.94, a PEG ratio of 2.76 and a beta of 1.46. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week 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.