5,306 Shares in Autodesk, Inc. $ADSK Acquired by Algert Global LLC

Key Points

• Algert Global LLC has purchased a new stake in Autodesk, Inc., acquiring 5,306 shares valued at approximately $1.39 million.
• Several institutional investors, including Farallon Capital Management LLC and GAMMA Investing LLC, have significantly increased their holdings in Autodesk, demonstrating strong investor interest.
• Wall Street analysts maintain an optimistic outlook, with multiple firms setting increased price targets for Autodesk shares, including Morgan Stanley at $370.00.

Algert Global LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,306 shares of the software company's stock, valued at approximately $1,389,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Seven Mile Advisory grew its holdings in Autodesk by 18.0% during the first quarter. Seven Mile Advisory now owns 846 shares of the software company's stock worth $221,000 after acquiring an additional 129 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Autodesk by 4.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 17,007 shares of the software company's stock valued at $4,452,000 after acquiring an additional 778 shares during the period. Alliance Wealth Advisors LLC UT boosted its position in Autodesk by 33.0% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 2,743 shares of the software company's stock worth $718,000 after purchasing an additional 680 shares in the last quarter. Ethic Inc. grew its stake in shares of Autodesk by 10.8% during the 1st quarter. Ethic Inc. now owns 25,058 shares of the software company's stock worth $6,630,000 after purchasing an additional 2,446 shares during the period. Finally, Martin Currie Ltd. increased its holdings in shares of Autodesk by 30.5% during the 1st quarter. Martin Currie Ltd. now owns 236,345 shares of the software company's stock valued at $61,875,000 after purchasing an additional 55,289 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ADSK shares. Macquarie reissued an "outperform" rating and set a $360.00 price target on shares of Autodesk in a report on Friday, July 11th. Barclays upped their price objective on shares of Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and set a $370.00 target price (up from $330.00) on shares of Autodesk in a research report on Friday, May 23rd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $340.00 price target on shares of Autodesk in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group increased their price target on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $343.04.

Autodesk Price Performance

ADSK stock traded up $4.55 during midday trading on Thursday, reaching $290.50. The stock had a trading volume of 487,657 shares, compared to its average volume of 1,578,139. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $326.62. 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's fifty day simple moving average is $297.44 and its 200 day simple moving average is $284.81. The company has a market cap of $62.17 billion, a price-to-earnings ratio of 62.14, a price-to-earnings-growth ratio of 2.72 and a beta of 1.46.

Insider Buying and Selling at Autodesk

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 transaction, the executive vice president directly owned 19,440 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders have sold 9,391 shares of company stock valued at $2,909,885 over the last quarter. Company insiders own 0.15% of the company's stock.

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.