Autodesk, Inc. (NASDAQ:ADSK) Shares Bought by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC increased its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 136.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,593 shares of the software company's stock after buying an additional 26,335 shares during the period. Autodesk comprises about 1.9% of Abacus FCF Advisors LLC's portfolio, making the stock its 21st biggest position. Abacus FCF Advisors LLC's holdings in Autodesk were worth $11,936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ADSK. Golden State Wealth Management LLC purchased a new position in shares of Autodesk during the fourth quarter worth about $25,000. Investment Management Corp VA ADV acquired a new stake in shares of Autodesk during the fourth quarter worth $29,000. Tradewinds Capital Management LLC boosted its holdings in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock valued at $30,000 after acquiring an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Autodesk during the 4th quarter worth approximately $30,000. Finally, Addison Advisors LLC raised its position in Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after acquiring an additional 74 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ADSK shares. KeyCorp restated an "overweight" rating and issued a $350.00 price target (up previously from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Macquarie reiterated an "outperform" rating and set a $360.00 price target on shares of Autodesk in a report on Friday, February 28th. UBS Group raised their price objective on Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, February 28th. 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. Finally, Bank of America upped their price objective on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and a consensus target price of $337.45.

Insider Buying and Selling at Autodesk

In related news, Director John T. Cahill acquired 2,000 shares of Autodesk stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company's stock, valued at $534,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Autodesk Trading Down 0.3%

Shares of Autodesk stock traded down $0.77 on Wednesday, hitting $296.77. The stock had a trading volume of 1,198,594 shares, compared to its average volume of 1,558,490. The stock has a market cap of $63.51 billion, a price-to-earnings ratio of 58.88, a PEG ratio of 2.94 and a beta of 1.45. Autodesk, Inc. has a one year low of $214.51 and a one year high of $326.62. The stock's 50-day simple moving average is $279.08 and its two-hundred day simple moving average is $285.65. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

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.