Autodesk, Inc. (NASDAQ:ADSK) is Ninety One UK Ltd's 4th Largest Position

Ninety One UK Ltd boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,146,677 shares of the software company's stock after purchasing an additional 79,900 shares during the period. Autodesk comprises approximately 3.7% of Ninety One UK Ltd's holdings, making the stock its 4th largest holding. Ninety One UK Ltd owned about 2.42% of Autodesk worth $1,347,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADSK. Investment Management Corp VA ADV bought a new stake in shares of Autodesk during the fourth quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new position in Autodesk during the fourth quarter valued at $30,000. Abound Financial LLC bought a new stake in shares of Autodesk during the 1st quarter valued at $35,000. Hurley Capital LLC purchased a new stake in shares of Autodesk in the 4th quarter worth about $44,000. Finally, CoreCap Advisors LLC increased its stake in shares of Autodesk by 212.0% in the 4th quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock worth $46,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ADSK shares. DA Davidson raised shares of Autodesk from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $305.00 to $375.00 in a research note on Monday. Barclays boosted their price target on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. BMO Capital Markets raised their price objective on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research report on Friday, May 23rd. Stifel Nicolaus boosted their target price on Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Rosenblatt Securities restated a "buy" rating and set a $340.00 price target on shares of Autodesk in a report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $343.64.

Insider Activity

In related news, EVP Rebecca Pearce sold 3,251 shares of the company's 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 completion of the sale, the executive vice president owned 19,440 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 9,391 shares of company stock valued at $2,909,885. Company insiders own 0.15% of the company's stock.

Autodesk Stock Performance

NASDAQ:ADSK traded down $19.20 during trading hours on Thursday, reaching $288.08. The company had a trading volume of 3,788,661 shares, compared to its average volume of 1,496,950. The firm has a market cap of $61.65 billion, a price-to-earnings ratio of 61.83, a PEG ratio of 3.03 and a beta of 1.44. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm's 50 day moving average price is $297.78 and its 200-day moving average price is $286.03. Autodesk, Inc. has a 52 week low of $223.03 and a 52 week high of $326.62.

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.