University of Texas Texas AM Investment Management Co. Buys 2,147 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• The University of Texas Texas AM Investment Management Co. increased its stake in Autodesk, Inc. by 18.9%, now holding 13,507 shares worth approximately $3.5 million.
• Autodesk's shares have a strong market presence with a current price of $303.28 and a recent twelve-month high of $326.62.
• Several analysts have raised their price targets for Autodesk, with a consensus rating of "Moderate Buy" and an average target of $342.61.

University of Texas Texas AM Investment Management Co. lifted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,507 shares of the software company's stock after purchasing an additional 2,147 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in Autodesk were worth $3,536,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Autodesk by 14.5% in the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after acquiring an additional 147 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Autodesk in the fourth quarter valued at $69,000. Level Four Advisory Services LLC bought a new position in Autodesk in the fourth quarter valued at $240,000. DnB Asset Management AS increased its stake in Autodesk by 4.9% in the fourth quarter. DnB Asset Management AS now owns 38,921 shares of the software company's stock valued at $11,504,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Allstate Corp bought a new position in Autodesk in the fourth quarter valued at $1,875,000. Institutional investors own 90.24% of the company's stock.

Analyst Ratings Changes

ADSK has been the topic of a number of recent research reports. Macquarie reaffirmed an "outperform" rating and set a $360.00 price objective on shares of Autodesk in a research note on Friday, July 11th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $345.00 price objective (up from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Wells Fargo & Company reissued an "overweight" rating and issued a $360.00 target price (up from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. DA Davidson raised Autodesk to a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Stifel Nicolaus raised their target price on Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

Insider Activity

In other 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 transaction of $1,024,065.00. Following the sale, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by corporate insiders.

Autodesk Price Performance

ADSK stock traded down $1.85 during mid-day trading on Thursday, hitting $306.29. The company had a trading volume of 418,732 shares, compared to its average volume of 1,604,483. The company has a market capitalization of $65.55 billion, a price-to-earnings ratio of 65.63, a P/E/G ratio of 2.95 and a beta of 1.44. Autodesk, Inc. has a 12-month low of $223.03 and a 12-month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $299.98 and a 200 day moving average price of $286.12.

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.