Deutsche Bank AG Purchases 254,189 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Deutsche Bank AG increased its stake in Autodesk, Inc. by 17.7%, acquiring a total of 1,690,675 shares valued at approximately $442.6 million.
• A significant number of institutional investors, including Farallon Capital Management and GAMMA Investing, are making substantial investments in Autodesk, indicating strong institutional confidence in the company.
• Autodesk's stock has received multiple upgrades from analysts, with price targets rising significantly, including a new neutral rating from Goldman Sachs and a strong-buy rating from DA Davidson.

Deutsche Bank AG raised its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 17.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,690,675 shares of the software company's stock after buying an additional 254,189 shares during the quarter. Deutsche Bank AG owned 0.79% of Autodesk worth $442,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ADSK. Farallon Capital Management LLC bought a new position in shares of Autodesk during the fourth quarter worth about $544,381,000. GAMMA Investing LLC grew its holdings in shares of Autodesk by 27,505.2% during the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after buying an additional 1,465,204 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock worth $652,127,000 after buying an additional 670,699 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Autodesk by 28.0% during the fourth 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 in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Autodesk during the fourth quarter worth about $148,299,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. BMO Capital Markets upped their target price on Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a report on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and set a $350.00 target price (up previously from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Wells Fargo & Company reiterated an "overweight" rating and set a $360.00 target price (up previously from $345.00) on shares of Autodesk in a report on Friday, May 23rd. Loop Capital assumed coverage on Autodesk in a report on Monday, July 21st. They set a "hold" rating and a $320.00 target price on the stock. Finally, Piper Sandler upped their target price on Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $342.61.

Insider Transactions at Autodesk

In other Autodesk 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 value of $1,024,065.00. Following the completion of the sale, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 9,391 shares of company stock valued at $2,909,885 in the last quarter. 0.15% of the stock is owned by insiders.

Autodesk Trading Down 0.8%

Shares of NASDAQ:ADSK traded down $2.31 during trading on Tuesday, reaching $282.31. The stock had a trading volume of 1,021,561 shares, compared to its average volume of 1,595,659. The firm's fifty day moving average is $300.03 and its 200 day moving average is $286.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.62. The stock has a market cap of $60.41 billion, a price-to-earnings ratio of 60.48, a P/E/G ratio of 2.80 and a beta of 1.46.

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.