Autodesk, Inc. $ADSK Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Autodesk, Inc. by 675.0% during the first quarter, acquiring a total of 47,430 shares valued at approximately $12.4 million.
• In related news, several other hedge funds have also increased their positions in Autodesk, with 90.24% of the stock now owned by institutional investors.
• Analyst ratings for Autodesk have improved, with multiple firms raising price targets, and a consensus rating of "Moderate Buy" is reported.

Acadian Asset Management LLC boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 675.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 47,430 shares of the software company's stock after purchasing an additional 41,310 shares during the period. Acadian Asset Management LLC's holdings in Autodesk were worth $12,409,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADSK. SouthState Corp grew its position in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Costello Asset Management INC purchased a new position in Autodesk during the 1st quarter worth $26,000. Close Asset Management Ltd purchased a new position in Autodesk during the 1st quarter worth $27,000. Cheviot Value Management LLC purchased a new position in Autodesk during the 1st quarter worth $27,000. Finally, Flaharty Asset Management LLC purchased a new position in Autodesk during the 1st quarter worth $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Up 0.2%

Shares of NASDAQ ADSK opened at $324.52 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09. The firm has a 50-day moving average price of $300.31 and a 200 day moving average price of $286.42. The stock has a market capitalization of $69.12 billion, a price-to-earnings ratio of 67.19, a price-to-earnings-growth ratio of 2.87 and a beta of 1.49.

Insider Activity at Autodesk

In related news, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the completion of the sale, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven M. Blum sold 22,420 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the completion of the sale, the executive vice president owned 13,099 shares of the company's stock, valued at $4,240,801.25. This trade represents a 63.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,860 shares of company stock worth $14,045,061 over the last three months. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ADSK. Bank of America raised their price objective on shares of Autodesk from $330.00 to $360.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Stifel Nicolaus raised their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Barclays raised their target price 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. Oppenheimer raised 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. Finally, The Goldman Sachs Group raised their target price on shares of Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. 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, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

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.

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