Autodesk, Inc. $ADSK Shares Bought by Abacus FCF Advisors LLC

Key Points

• Abacus FCF Advisors LLC raised its stake in Autodesk, Inc. (NASDAQ:ADSK) by 32.9% in Q2, now owning 60,589 shares valued at approximately $18.76 million.
• Several institutional investors have increased their holdings in Autodesk, with T. Rowe Price growing its position by 44.1% during the first quarter.
• Analysts have shown confidence in Autodesk, raising price targets and maintaining a consensus rating of "Moderate Buy" with an average price target of $356.83.

Abacus FCF Advisors LLC lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 32.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,589 shares of the software company's stock after buying an additional 14,996 shares during the period. Autodesk makes up approximately 2.6% of Abacus FCF Advisors LLC's holdings, making the stock its 9th largest position. Abacus FCF Advisors LLC's holdings in Autodesk were worth $18,757,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. OMNI 360 Wealth Inc. acquired a new stake in Autodesk in the second quarter valued at about $359,000. E. Ohman J or Asset Management AB increased its holdings in Autodesk by 1.8% in the second quarter. E. Ohman J or Asset Management AB now owns 127,126 shares of the software company's stock valued at $39,354,000 after buying an additional 2,276 shares in the last quarter. Spire Wealth Management increased its holdings in Autodesk by 2.5% in the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after buying an additional 50 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Autodesk in the first quarter valued at about $324,000. Finally, GK Wealth Management LLC purchased a new position in Autodesk in the second quarter valued at about $348,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Buying and Selling at Autodesk

In related news, EVP Ruth Ann Keene sold 2,761 shares of the business's stock in a transaction dated 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 owned 80,255 shares of the company's stock, valued at $25,288,350.50. This represents a 3.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the transaction, the director owned 4,393 shares of the company's stock, valued at approximately $1,427,725. This trade represents a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,830 shares of company stock worth $13,123,341 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded down $0.22 during trading on Tuesday, reaching $324.17. 496,403 shares of the company's stock traded hands, compared to its average volume of 1,621,235. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $329.09. The company has a 50 day moving average of $302.99 and a 200-day moving average of $289.00. The stock has a market capitalization of $69.05 billion, a P/E ratio of 67.07, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Autodesk from $370.00 to $385.00 and gave the stock an "overweight" rating in a research note on Sunday, August 31st. Barclays raised their price objective 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. Macquarie lifted their target price on shares of Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Royal Bank Of Canada lifted their target price on shares of Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Citigroup lifted their target price on shares of Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of "Moderate Buy" and an average target price 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.