Autodesk, Inc. $ADSK Shares Acquired by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB increased its stake in Autodesk, Inc. by 1.8%, owning 127,126 shares valued at approximately $39.4 million after purchasing additional shares in the second quarter.
• Analysts have raised their target prices for Autodesk, with firms like Rosenblatt Securities and Wells Fargo & Company setting targets as high as $375, reflecting a strong consensus of a "Moderate Buy" rating among analysts.
• Recent insider activity includes EVP Rebecca Pearce selling 6,129 shares for about $1.98 million, reflecting a decrease in their ownership stake by approximately 31.53%.

E. Ohman J or Asset Management AB lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,126 shares of the software company's stock after purchasing an additional 2,276 shares during the quarter. Autodesk comprises about 1.0% of E. Ohman J or Asset Management AB's holdings, making the stock its 24th biggest holding. E. Ohman J or Asset Management AB owned about 0.06% of Autodesk worth $39,354,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ADSK. Brighton Jones LLC lifted its position in shares of Autodesk by 14.5% during the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock worth $343,000 after purchasing an additional 147 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of Autodesk by 7.0% during the fourth quarter. Gotham Asset Management LLC now owns 3,103 shares of the software company's stock worth $917,000 after purchasing an additional 204 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Autodesk by 30.6% during the fourth quarter. Royal Bank of Canada now owns 776,432 shares of the software company's stock worth $229,491,000 after buying an additional 181,835 shares during the period. Toronto Dominion Bank increased its stake in shares of Autodesk by 5.1% during the fourth quarter. Toronto Dominion Bank now owns 123,666 shares of the software company's stock worth $36,552,000 after buying an additional 6,040 shares during the period. Finally, Strategic Global Advisors LLC increased its stake in shares of Autodesk by 4.1% during the fourth quarter. Strategic Global Advisors LLC now owns 18,613 shares of the software company's stock worth $5,501,000 after buying an additional 731 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $319.05 on Monday. The firm has a market capitalization of $67.96 billion, a P/E ratio of 66.06, a P/E/G ratio of 2.83 and a beta of 1.49. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. The firm's 50 day moving average is $300.38 and its two-hundred day moving average is $286.70.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ADSK shares. Rosenblatt Securities upped their target price on shares of Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. DA Davidson restated a "buy" rating and set a $375.00 target price on shares of Autodesk in a research note on Friday, August 29th. Oppenheimer upped their target price on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Wells Fargo & Company upped their target price on shares of Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Finally, Berenberg Bank set a $370.00 target price on shares of Autodesk in a research note on Monday, September 1st. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Autodesk currently has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 6,129 shares of the firm'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 transaction of $1,980,034.74. Following the transaction, the executive vice president directly owned 13,311 shares in the company, valued at approximately $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the transaction, the executive vice president owned 80,255 shares in the company, valued at approximately $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. In the last three months, insiders have sold 43,860 shares of company stock valued at $14,045,061. 0.15% of the stock is currently owned by insiders.

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.

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