Sovran Advisors LLC Purchases New Stake in Autodesk, Inc. (NASDAQ:ADSK)

Sovran Advisors LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,035 shares of the software company's stock, valued at approximately $269,000.

A number of other hedge funds have also recently added to or reduced their stakes in ADSK. Investment Management Corp VA ADV purchased a new stake in shares of Autodesk during the 4th quarter valued at $29,000. Mizuho Securities Co. Ltd. acquired a new position in Autodesk in the fourth quarter valued at $30,000. Hurley Capital LLC purchased a new stake in Autodesk during the fourth quarter valued at about $44,000. CoreCap Advisors LLC grew its position in Autodesk by 212.0% during the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock valued at $46,000 after acquiring an additional 106 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its stake in Autodesk by 30.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock worth $46,000 after acquiring an additional 41 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Up 1.7%

ADSK traded up $5.42 on Thursday, reaching $315.76. The company's stock had a trading volume of 836,362 shares, compared to its average volume of 1,482,820. Autodesk, Inc. has a 1 year low of $223.03 and a 1 year high of $326.62. The business's 50 day moving average is $293.60 and its 200 day moving average is $285.50. 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 stock has a market cap of $67.57 billion, a price-to-earnings ratio of 67.61, a price-to-earnings-growth ratio of 2.99 and a beta of 1.44.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADSK shares. Citigroup lifted their price objective on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Bank of America raised their price target on shares of Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. BMO Capital Markets boosted their price objective on shares of Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research note on Friday, May 23rd. KeyCorp reissued an "overweight" rating and issued a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Barclays raised their target price on shares of Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $340.45.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is currently owned by insiders.

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.