Intact Investment Management Inc. Purchases New Stake in Autodesk, Inc. (NASDAQ:ADSK)

Intact Investment Management Inc. bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,200 shares of the software company's stock, valued at approximately $314,000.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock valued at $6,025,331,000 after buying an additional 119,034 shares during the last quarter. Geode Capital Management LLC grew its stake in Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock worth $1,391,145,000 after acquiring an additional 45,623 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Autodesk by 28.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock valued at $902,597,000 after acquiring an additional 667,763 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after purchasing an additional 2,307,960 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Autodesk by 20.6% during the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock worth $727,933,000 after purchasing an additional 420,838 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Up 1.1%

Shares of ADSK traded up $3.24 during midday trading on Tuesday, reaching $304.19. 1,464,601 shares of the company were exchanged, compared to its average volume of 1,491,120. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year high of $326.62. The stock has a 50-day moving average price of $287.12 and a 200-day moving average price of $285.19. 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 company has a market cap of $65.10 billion, a price-to-earnings ratio of 65.14, a P/E/G ratio of 2.90 and a beta of 1.45.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 486 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $300.00, for a total transaction of $145,800.00. Following the completion of the sale, the executive vice president now directly owns 28,345 shares in the company, valued at $8,503,500. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total value 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. This trade represents a 44.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,539 shares of company stock worth $1,592,002. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on ADSK shares. Piper Sandler upped their target price on Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Oppenheimer reaffirmed an "outperform" rating and set a $350.00 price objective (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Barclays increased their price objective on shares of Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Citigroup boosted their target price on shares of Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Scotiabank cut 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 note on Monday, March 17th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $337.45.

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.