Autodesk, Inc. $ADSK is Oberndorf William E's 5th Largest Position

Key Points

• Oberndorf William E has increased its stake in Autodesk, Inc. by 13.5%, making the stock 10.5% of its investment portfolio, valued at approximately $8.18 million.
• A number of institutional investors, including Cheviot Value Management and SouthState Corp, have also acquired new stakes in Autodesk during the first quarter of 2023.
• Analysts have a predominantly positive outlook for Autodesk, with an average price target of $342.61 and several ratings indicating a potential upward trend in stock performance.

Oberndorf William E grew its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,229 shares of the software company's stock after purchasing an additional 3,726 shares during the period. Autodesk comprises about 10.5% of Oberndorf William E's holdings, making the stock its 5th largest holding. Oberndorf William E's holdings in Autodesk were worth $8,176,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock valued at $5,440,968,000 after purchasing an additional 397,458 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Autodesk by 1.6% in the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after buying an additional 79,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Autodesk by 28.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock worth $902,597,000 after buying an additional 667,763 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Autodesk by 4.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock worth $785,470,000 after buying an additional 124,948 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Autodesk by 20.6% in the 4th quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock worth $727,933,000 after buying an additional 420,838 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of ADSK stock traded down $2.57 on Thursday, reaching $286.06. The stock had a trading volume of 1,184,383 shares, compared to its average volume of 1,303,258. The stock has a market cap of $61.22 billion, a P/E ratio of 61.25, a price-to-earnings-growth ratio of 2.78 and a beta of 1.46. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50 day simple moving average of $298.23 and a 200 day simple moving average of $285.38.

Insider Transactions at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several recent research reports. Rosenblatt Securities restated a "buy" rating and issued a $340.00 price target on shares of Autodesk in a research note on Tuesday, May 20th. Oppenheimer restated an "outperform" rating and issued a $350.00 price target (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Barclays upped their price target on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Macquarie restated an "outperform" rating and issued a $360.00 price target on shares of Autodesk in a research note on Friday, July 11th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $360.00 price target (up previously from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and an average target price of $343.04.

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.