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Ninety One SA PTY Ltd Raises Stake in Autodesk, Inc. (NASDAQ:ADSK)

Autodesk logo with Computer and Technology background

Ninety One SA PTY Ltd grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 46.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,826 shares of the software company's stock after buying an additional 17,354 shares during the quarter. Autodesk accounts for 2.6% of Ninety One SA PTY Ltd's investment portfolio, making the stock its 10th biggest position. Ninety One SA PTY Ltd's holdings in Autodesk were worth $14,285,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Autodesk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock valued at $6,025,331,000 after buying an additional 119,034 shares in the last quarter. Ninety One UK Ltd raised its position in 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 purchasing an additional 79,900 shares during the period. Geode Capital Management LLC raised its position in Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock worth $1,391,145,000 after purchasing an additional 45,623 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 purchasing an additional 667,763 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Autodesk by 406.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after purchasing an additional 2,307,960 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $340.00 target price on shares of Autodesk in a research report on Tuesday, May 20th. Stifel Nicolaus lifted their target price on shares of Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Mizuho decreased their target price on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. KeyCorp reiterated an "overweight" rating and issued a $350.00 target price (up previously from $323.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Berenberg Bank upgraded shares of Autodesk from a "hold" rating to a "buy" rating and boosted their price objective for the company from $325.00 to $365.00 in a research report on Friday, June 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $343.64.

View Our Latest Research Report on Autodesk

Insiders Place Their Bets

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

Autodesk Stock Down 0.1%

ADSK traded down $0.40 during midday trading on Tuesday, reaching $314.91. The company's stock had a trading volume of 1,457,591 shares, compared to its average volume of 1,482,978. The firm has a market capitalization of $67.39 billion, a price-to-earnings ratio of 67.43, a PEG ratio of 3.05 and a beta of 1.44. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 1 year low of $223.03 and a 1 year high of $326.62. The stock's 50-day moving average is $296.27 and its 200-day moving average is $285.68.

About Autodesk

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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