Massachusetts Financial Services Co. MA Raises Position in Autodesk, Inc. (NASDAQ:ADSK)

Massachusetts Financial Services Co. MA grew its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,000,268 shares of the software company's stock after purchasing an additional 124,948 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.41% of Autodesk worth $785,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Spire Wealth Management raised its stake in Autodesk by 2.5% during the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after buying an additional 50 shares during the period. Sowell Financial Services LLC acquired a new position in Autodesk during the 1st quarter worth approximately $324,000. Cambridge Investment Research Advisors Inc. raised its stake in Autodesk by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after buying an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Autodesk by 27.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after buying an additional 9,222 shares during the period. Finally, GAMMA Investing LLC raised its stake in Autodesk by 5.4% during the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after buying an additional 290 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADSK. Rosenblatt Securities reaffirmed a "buy" rating and set a $340.00 price target on shares of Autodesk in a research note on Tuesday, May 20th. Bank of America upped their price target on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Oppenheimer reissued an "outperform" rating and set a $350.00 price objective (up from $300.00) on shares of Autodesk in a report on Friday, May 23rd. JPMorgan Chase & Co. lowered their price objective on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group increased their price objective on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $343.64.

Insiders Place Their Bets

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction on 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 $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 9,391 shares of company stock worth $2,909,885 over the last three months. 0.15% of the stock is currently owned by corporate insiders.

Autodesk Stock Performance

NASDAQ ADSK traded up $0.51 on Wednesday, hitting $289.47. 1,349,657 shares of the stock traded hands, compared to its average volume of 1,517,859. The business's fifty day moving average is $298.52 and its two-hundred day moving average is $285.60. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. The firm has a market capitalization of $61.95 billion, a price-to-earnings ratio of 61.99, a PEG ratio of 2.83 and a beta of 1.44. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Autodesk 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.