HB Wealth Management LLC Boosts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• HB Wealth Management LLC increased its stake in Autodesk, Inc. by 34.1%, owning 6,792 shares valued at $1.78 million as of the latest SEC filing.
• Institutional investors now own 90.24% of Autodesk's stock, with several large investors increasing their positions in the fourth quarter.
• Wall Street analysts have a positive outlook on Autodesk, with an average target price of $342.61 and a consensus rating of "Moderate Buy."

HB Wealth Management LLC lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 34.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,792 shares of the software company's stock after acquiring an additional 1,728 shares during the period. HB Wealth Management LLC's holdings in Autodesk were worth $1,778,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ninety One UK Ltd increased its position in shares of Autodesk by 1.6% in the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock valued at $1,347,400,000 after acquiring an additional 79,900 shares during the period. Geode Capital Management LLC grew its stake in Autodesk by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock valued at $1,391,145,000 after purchasing an additional 45,623 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Autodesk by 28.0% in 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 valued at $902,597,000 after purchasing an additional 667,763 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Autodesk by 4.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock worth $785,470,000 after purchasing an additional 124,948 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Autodesk by 20.6% during the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock worth $727,933,000 after purchasing an additional 420,838 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Price Performance

Shares of NASDAQ ADSK traded down $6.79 during mid-day trading on Friday, reaching $296.32. The company's stock had a trading volume of 588,457 shares, compared to its average volume of 1,604,720. The stock has a 50-day moving average of $300.14 and a two-hundred day moving average of $286.25. 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 stock has a market capitalization of $63.41 billion, a P/E ratio of 63.47, a P/E/G ratio of 2.96 and a beta of 1.44. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year high of $326.62.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADSK. Bank of America raised their price target on shares of Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $345.00 target price (up previously from $313.03) on shares of Autodesk in a report on Friday, May 23rd. The Goldman Sachs Group increased their price target on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Barclays boosted their price objective on Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

Insider Buying and Selling

In other news, EVP Rebecca Pearce sold 3,251 shares of the company's 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 $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is currently owned by corporate insiders.

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.