Simmons Bank Purchases 7,105 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Simmons Bank lifted its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 202.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,620 shares of the software company's stock after purchasing an additional 7,105 shares during the quarter. Simmons Bank's holdings in Autodesk were worth $2,780,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management boosted its position in shares of Autodesk by 2.5% in the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after purchasing an additional 50 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Autodesk in the 1st quarter worth approximately $324,000. Cambridge Investment Research Advisors Inc. raised its holdings in Autodesk by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after acquiring an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Autodesk by 27.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after acquiring an additional 9,222 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Autodesk by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after acquiring an additional 290 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Rosenblatt Securities restated a "buy" rating and issued a $340.00 price objective on shares of Autodesk in a report on Tuesday, May 20th. Robert W. Baird boosted their price objective on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Royal Bank Of Canada restated an "outperform" rating and issued a $345.00 price objective (up from $313.03) on shares of Autodesk in a 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 stock from $325.00 to $365.00 in a report on Friday, June 27th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.45.

Autodesk Stock Performance

Shares of ADSK stock traded up $5.42 during mid-day trading on Friday, reaching $315.76. 836,362 shares of the company's stock traded hands, compared to its average volume of 1,483,374. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. The firm has a 50 day moving average price of $295.40 and a two-hundred day moving average price of $285.56. 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 firm has a market capitalization of $67.57 billion, a PE ratio of 67.61, a price-to-earnings-growth ratio of 3.05 and a beta of 1.44.

Insider Activity

In other news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the sale, the executive vice president owned 19,440 shares of the company's stock, valued at $6,123,600. The trade was a 14.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 9,391 shares of company stock worth $2,909,885. Insiders own 0.15% of the company's stock.

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.