Autodesk, Inc. (NASDAQ:ADSK) Shares Purchased by Twin Capital Management Inc.

Twin Capital Management Inc. lifted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 34.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,744 shares of the software company's stock after acquiring an additional 2,261 shares during the period. Twin Capital Management Inc.'s holdings in Autodesk were worth $2,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Autodesk Trading Up 1.7%

NASDAQ ADSK opened at $297.03 on Friday. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. 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 company has a market capitalization of $63.56 billion, a price-to-earnings ratio of 63.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. The company's fifty day moving average price is $298.88 and its two-hundred day moving average price is $285.53.

Analyst Ratings Changes

ADSK has been the topic of a number of research reports. Citigroup raised their price target on shares of Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Piper Sandler increased their price objective on shares of Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. KeyCorp reiterated an "overweight" rating and issued a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Stifel Nicolaus increased their price objective on shares of Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Mizuho cut their price objective on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $343.64.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred 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 directly owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 9,391 shares of company stock valued at $2,909,885 in the last ninety days. Company 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.

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