Autodesk, Inc. $ADSK Shares Purchased by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd increased its stake in Autodesk, Inc. by 6.3%, owning 45,024 shares valued at approximately $11.8 million as of the latest SEC filing.
• Several institutional investors have significantly increased their holdings in Autodesk, with 90.24% of the company's stock now owned by institutional investors and hedge funds.
• Analysts have raised price targets for Autodesk shares, with Mizuho setting a new price objective of $375, reflecting strong investor sentiment towards the stock.

UniSuper Management Pty Ltd grew its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,024 shares of the software company's stock after purchasing an additional 2,665 shares during the period. UniSuper Management Pty Ltd's holdings in Autodesk were worth $11,787,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. SouthState Corp increased its stake in shares of Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after purchasing an additional 80 shares during the period. Costello Asset Management INC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $26,000. Close Asset Management Ltd acquired a new stake in shares of Autodesk in the first quarter valued at approximately $27,000. Cheviot Value Management LLC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $27,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Autodesk in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Buying and Selling

In related news, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total transaction of $869,991.10. Following the completion of the sale, the executive vice president directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the sale, the executive vice president owned 13,311 shares of the company's stock, valued at $4,300,251.66. The trade was a 31.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,440 shares of company stock worth $6,786,586. Corporate insiders own 0.15% of the company's stock.

Autodesk Trading Up 2.0%

Shares of NASDAQ:ADSK opened at $326.37 on Monday. The stock has a market capitalization of $69.52 billion, a price-to-earnings ratio of 67.57, a PEG ratio of 2.89 and a beta of 1.49. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $326.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50 day moving average price of $299.25 and a 200 day moving average price of $285.32.

Analyst Ratings Changes

Several equities research analysts have commented on ADSK shares. KeyCorp raised their price target on shares of Autodesk from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Piper Sandler raised their price objective on shares of Autodesk from $361.00 to $373.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Mizuho raised their price objective on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. BMO Capital Markets raised their price objective on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research note on Friday, May 23rd. Finally, Berenberg Bank set a $370.00 price objective on shares of Autodesk in a research note on Monday, September 1st. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $356.83.

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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