Autodesk, Inc. (NASDAQ:ADSK) Shares Purchased by USA Financial Formulas

USA Financial Formulas grew its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 21.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,302 shares of the software company's stock after purchasing an additional 922 shares during the period. USA Financial Formulas' holdings in Autodesk were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Autodesk during the fourth quarter worth about $25,000. Investment Management Corp VA ADV purchased a new position in Autodesk during the fourth quarter worth about $29,000. Tradewinds Capital Management LLC raised its stake in Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after purchasing an additional 50 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in Autodesk during the fourth quarter worth about $30,000. Finally, Addison Advisors LLC raised its stake in Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after purchasing an additional 74 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $350.00 target price (up from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $360.00 target price (up from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. Stifel Nicolaus lifted their target price on shares of Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. KeyCorp reissued an "overweight" rating and issued a $350.00 price target (up from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, BMO Capital Markets boosted their price target on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research note on Friday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and an average target price of $337.45.

Autodesk Stock Down 2.1%

ADSK traded down $6.41 during trading hours on Friday, hitting $292.16. 1,129,695 shares of the company's stock were exchanged, compared to its average volume of 1,536,855. 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 of $282.27 and a 200 day moving average of $285.37. The firm has a market cap of $62.52 billion, a P/E ratio of 57.97, a price-to-earnings-growth ratio of 2.94 and a beta of 1.45. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insiders Place Their Bets

In related news, Director John T. Cahill bought 2,000 shares of the stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at approximately $802,671.87. The trade was a 44.95% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

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.