Financial Gravity Asset Management Inc. Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Financial Gravity Asset Management Inc. acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,704 shares of the software company's stock, valued at approximately $2,017,000.

A number of other large investors also recently modified their holdings of ADSK. Spire Wealth Management grew its position in Autodesk by 2.5% during the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after acquiring an additional 50 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Autodesk during the 1st quarter valued at $324,000. Cambridge Investment Research Advisors Inc. raised its position in Autodesk by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after purchasing an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Autodesk by 27.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after purchasing an additional 9,222 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Autodesk by 5.4% during the first quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock valued at $1,471,000 after buying an additional 290 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Down 2.0%

Autodesk stock traded down $5.72 during trading hours on Friday, hitting $280.39. 2,441,762 shares of the stock traded hands, compared to its average volume of 1,505,732. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The company has a market cap of $60.00 billion, a PE ratio of 60.04, a PEG ratio of 2.70 and a beta of 1.44. The firm's 50-day moving average price is $298.04 and its two-hundred day moving average price is $285.60. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Berenberg Bank raised Autodesk from a "hold" rating to a "buy" rating and boosted their target price for the company from $325.00 to $365.00 in a research note on Friday, June 27th. Barclays lifted their price target on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $345.00 price objective (up previously from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Citigroup raised their target price on shares of Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Scotiabank lowered their price target on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $343.64.

Insider Activity

In related news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares of the company's stock, valued at $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is owned by company insiders.

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.