Strs Ohio Takes Position in Autodesk, Inc. $ADSK

Key Points

• Strs Ohio acquired 53,838 shares of Autodesk, Inc. for approximately $14.1 million, indicating institutional interest in the software company amidst stock fluctuations.
• Autodesk's stock saw a 1.7% decrease, with a current price of $319.05 and a market cap of roughly $67.96 billion, amid varied performance in market analysts' ratings.
• Insider trading activity was noted, with two executives selling a combined total of 8,890 shares, suggesting potential shifts in confidence among company leadership.

Strs Ohio purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 53,838 shares of the software company's stock, valued at approximately $14,095,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADSK. Brighton Jones LLC lifted its holdings in Autodesk by 14.5% during the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after purchasing an additional 147 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in Autodesk by 7.0% during the fourth quarter. Gotham Asset Management LLC now owns 3,103 shares of the software company's stock valued at $917,000 after purchasing an additional 204 shares in the last quarter. Royal Bank of Canada lifted its holdings in Autodesk by 30.6% during the fourth quarter. Royal Bank of Canada now owns 776,432 shares of the software company's stock valued at $229,491,000 after purchasing an additional 181,835 shares in the last quarter. Steadfast Capital Management LP purchased a new position in Autodesk during the fourth quarter valued at $41,941,000. Finally, Toronto Dominion Bank lifted its holdings in Autodesk by 5.1% during the fourth quarter. Toronto Dominion Bank now owns 123,666 shares of the software company's stock valued at $36,552,000 after purchasing an additional 6,040 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADSK. Loop Capital began coverage on shares of Autodesk in a report on Monday, July 21st. They set a "hold" rating and a $320.00 price objective on the stock. The Goldman Sachs Group increased their price objective on shares of Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Robert W. Baird increased their price objective on shares of Autodesk from $345.00 to $363.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Royal Bank Of Canada raised their price target on shares of Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Barclays raised their price target on shares of Autodesk from $355.00 to $385.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $356.83.

Insider Activity

In other news, EVP Rebecca Pearce sold 6,129 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the sale, the executive vice president directly owned 13,311 shares of the company's stock, valued at approximately $4,300,251.66. The trade was a 31.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total transaction of $869,991.10. Following the completion of the sale, the executive vice president directly owned 80,255 shares in the company, valued at $25,288,350.50. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,374 shares of company stock valued at $13,899,261 over the last three months. 0.15% of the stock is currently owned by company insiders.

Autodesk Trading Up 1.8%

ADSK stock traded up $5.68 during trading on Thursday, reaching $324.96. 473,238 shares of the stock were exchanged, compared to its average volume of 1,609,387. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average price of $300.81 and a 200-day moving average price of $287.47. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09. The firm has a market capitalization of $69.22 billion, a price-to-earnings ratio of 67.28, a P/E/G ratio of 2.82 and a beta of 1.49.

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.