Sowell Financial Services LLC Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Sowell Financial Services LLC bought a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,236 shares of the software company's stock, valued at approximately $324,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock worth $6,025,331,000 after purchasing an additional 119,034 shares during the period. Geode Capital Management LLC grew its holdings in shares of Autodesk by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock worth $1,391,145,000 after purchasing an additional 45,623 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 worth $902,597,000 after buying an additional 667,763 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Autodesk by 406.8% in 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 buying an additional 2,307,960 shares during the period. Finally, Northern Trust Corp lifted its holdings in Autodesk by 20.6% during the 4th quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock valued at $727,933,000 after buying an additional 420,838 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Down 0.6%

Shares of ADSK stock traded down $1.82 during trading hours on Wednesday, reaching $302.37. 1,226,428 shares of the company's stock were exchanged, compared to its average volume of 1,484,983. 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 $64.71 billion, a price-to-earnings ratio of 64.75, a P/E/G ratio of 2.93 and a beta of 1.45. Autodesk, Inc. has a fifty-two week low of $223.03 and a fifty-two week high of $326.62. The stock's 50 day moving average is $287.90 and its 200-day moving average is $285.33.

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 value of $145,800.00. Following the completion of the transaction, 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 document filed with the SEC, which is available through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the sale, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This represents a 44.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,539 shares of company stock valued at $1,592,002 in the last three months. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADSK. Stifel Nicolaus raised their target price on shares of Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. DA Davidson set a $305.00 price objective on Autodesk and gave the stock a "neutral" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. lowered their target price on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Royal Bank Of Canada reissued an "outperform" rating and set a $345.00 price target (up previously from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Piper Sandler upped their price objective on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $337.45.

Autodesk 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.