111 Capital Boosts Stake in Autodesk, Inc. $ADSK

Key Points

• 111 Capital has increased its stake in Autodesk by 13.4% during the second quarter, owning a total of 8,759 shares valued at approximately $2.7 million.
• Multiple institutional investors, including T. Rowe Price and AQR Capital Management, have recently made significant increases to their holdings in Autodesk, indicating strong institutional interest in the stock.
• Wall Street analysts are optimistic about Autodesk's future growth, with several firms raising their price targets, and the stock currently holds a consensus rating of "Moderate Buy."

111 Capital increased its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,759 shares of the software company's stock after buying an additional 1,038 shares during the period. 111 Capital's holdings in Autodesk were worth $2,712,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADSK. Nuveen LLC purchased a new stake in shares of Autodesk in the first quarter worth about $278,383,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Autodesk by 44.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock worth $868,736,000 after buying an additional 1,016,187 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Autodesk by 336.7% in the first quarter. AQR Capital Management LLC now owns 572,701 shares of the software company's stock worth $147,339,000 after buying an additional 441,571 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Autodesk by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after buying an additional 400,514 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after buying an additional 397,458 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In related news, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total value of $869,991.10. Following the transaction, the executive vice president owned 80,255 shares of the company's stock, valued at $25,288,350.50. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the completion of the transaction, the executive vice president directly owned 13,099 shares in the company, valued at approximately $4,240,801.25. This trade represents a 63.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,386 shares of company stock worth $11,433,201 in the last ninety days. 0.15% of the stock is owned by company insiders.

Autodesk Trading Down 0.6%

ADSK opened at $318.90 on Friday. The stock has a market cap of $67.93 billion, a price-to-earnings ratio of 66.02, a P/E/G ratio of 2.84 and a beta of 1.49. The stock's 50 day moving average price is $307.37 and its 200-day moving average price is $292.69. Autodesk, Inc. has a one year low of $232.67 and a one year high of $329.09. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ADSK shares. Wells Fargo & Company upped their price objective on Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Rosenblatt Securities upped their price objective on Autodesk from $345.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Piper Sandler upped their price objective on Autodesk from $361.00 to $373.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Citigroup upped their price objective on Autodesk from $376.00 to $393.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Finally, Loop Capital started coverage on Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $359.13.

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.

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