Martin Currie Ltd. Raises Holdings in Autodesk, Inc. $ADSK

Key Points

• Martin Currie Ltd. increased its stake in Autodesk, Inc. by 30.5%, now holding 236,345 shares valued at approximately $61.9 million.
• Autodesk shares received numerous price target upgrades from analysts, with targets ranging from $300 to $360, indicating a consensus rating of "Moderate Buy".
• Insider activity shows Rebecca Pearce, EVP, sold over 3,200 shares, representing a 14.33% decrease in her holdings.

Martin Currie Ltd. raised its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 30.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,345 shares of the software company's stock after acquiring an additional 55,289 shares during the period. Autodesk makes up 2.5% of Martin Currie Ltd.'s portfolio, making the stock its 15th biggest position. Martin Currie Ltd. owned approximately 0.11% of Autodesk worth $61,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC lifted its stake in shares of Autodesk by 34.9% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock worth $37,000 after acquiring an additional 37 shares during the last quarter. Oregon Pacific Wealth Management LLC raised its position in Autodesk by 4.0% during the 1st quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock valued at $262,000 after purchasing an additional 38 shares in the last quarter. GPS Wealth Strategies Group LLC raised its position in Autodesk by 30.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock valued at $46,000 after purchasing an additional 41 shares in the last quarter. Johnson Financial Group Inc. raised its position in Autodesk by 30.2% during the 4th quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock valued at $56,000 after purchasing an additional 42 shares in the last quarter. Finally, Sky Investment Group LLC raised its position in Autodesk by 0.5% during the 1st quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock valued at $2,183,000 after purchasing an additional 42 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction 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. The trade was a 14.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by insiders.

Autodesk Stock Performance

Autodesk stock traded down $1.4040 during trading hours on Wednesday, hitting $287.8360. 326,858 shares of the stock traded hands, compared to its average volume of 1,587,528. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm's 50 day moving average price is $298.64 and its 200-day moving average price is $285.50. The stock has a market capitalization of $61.60 billion, a price-to-earnings ratio of 61.61, a P/E/G ratio of 2.79 and a beta of 1.46. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $326.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ADSK shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $345.00 target price (up from $313.0345) on shares of Autodesk in a research report on Friday, May 23rd. Piper Sandler lifted their price target on Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Barclays lifted their price target on Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Stifel Nicolaus lifted their price target on Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, BMO Capital Markets lifted their price target on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $342.61.

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.