Avanza Fonder AB Purchases 1,465 Shares of Autodesk, Inc. $ADSK

Key Points

• Avanza Fonder AB increased its stake in Autodesk, Inc. by 7.7%, now holding 20,469 shares valued at approximately $6.3 million as of the latest SEC filing.
• Several institutional investors, including Sowell Financial Services and Kaufman Rossin Wealth, also boosted their positions in Autodesk during the second quarter, showcasing increased institutional interest in the company.
• Analyst ratings have been positive, with price targets raised by firms like Macquarie and Barclays, suggesting a strong outlook for Autodesk's stock performance.

Avanza Fonder AB grew its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,469 shares of the software company's stock after purchasing an additional 1,465 shares during the period. Avanza Fonder AB's holdings in Autodesk were worth $6,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after acquiring an additional 397,458 shares during the period. Ninety One UK Ltd lifted its holdings in shares of Autodesk by 1.6% during the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after acquiring an additional 79,900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Autodesk by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after acquiring an additional 400,514 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Autodesk by 44.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock valued at $868,736,000 after purchasing an additional 1,016,187 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Autodesk by 4.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after purchasing an additional 124,948 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ADSK shares. Loop Capital started coverage on shares of Autodesk in a report on Monday, July 21st. They set a "hold" rating and a $320.00 price target for the company. Oppenheimer boosted their target price on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Wall Street Zen raised shares of Autodesk from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Citigroup boosted their target price on shares of Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Finally, Berenberg Bank set a $370.00 target price on shares of Autodesk in a research note on Monday, September 1st. Seventeen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and an average price target of $356.83.

Insider Buying and Selling at Autodesk

In related news, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $325.00, for a total value of $1,026,675.00. Following the completion of the transaction, the director owned 4,393 shares in the company, valued at $1,427,725. This trade represents a 41.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total transaction of $869,991.10. Following the completion of the transaction, the executive vice president owned 80,255 shares of the company's stock, valued at approximately $25,288,350.50. This trade represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,830 shares of company stock worth $13,123,341 in the last 90 days. Corporate insiders own 0.15% of the company's stock.

Autodesk Price Performance

Shares of ADSK stock traded down $0.67 on Tuesday, reaching $323.72. The company had a trading volume of 522,117 shares, compared to its average volume of 1,621,333. The stock has a market capitalization of $68.95 billion, a PE ratio of 67.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a one year low of $232.67 and a one year high of $329.09. The business's 50-day moving average is $302.99 and its 200 day moving average is $289.00.

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.