Banco Santander S.A. Acquires 46,696 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Banco Santander S.A. significantly increased its stake in Autodesk, Inc. by 109.7%, holding 89,251 shares valued at approximately $23.36 million as of its latest SEC filing.
• Autodesk stock is currently priced at $297.02 with analysts predicting a positive outlook; several firms raised their price targets, with Barclays setting a target of $355.00.
• Insider trading activity included EVP Rebecca Pearce selling 3,251 shares for over $1 million, indicating notable movement among company executives.

Banco Santander S.A. increased its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 109.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,251 shares of the software company's stock after buying an additional 46,696 shares during the quarter. Banco Santander S.A.'s holdings in Autodesk were worth $23,366,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in shares of Autodesk during the 4th quarter worth approximately $29,000. Close Asset Management Ltd purchased a new position in Autodesk in the 1st quarter valued at approximately $27,000. Abound Financial LLC purchased a new position in Autodesk during the first quarter worth $35,000. Hurley Capital LLC purchased a new position in Autodesk during the fourth quarter worth $44,000. Finally, CoreCap Advisors LLC grew its position in shares of Autodesk by 212.0% in the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock valued at $46,000 after purchasing an additional 106 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ADSK. Berenberg Bank upgraded Autodesk from a "hold" rating to a "buy" rating and lifted their target price for the company from $325.00 to $365.00 in a report on Friday, June 27th. Piper Sandler boosted their price objective on Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Oppenheimer restated an "outperform" rating and set a $350.00 price objective (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Citigroup boosted their price objective on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, The Goldman Sachs Group boosted 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. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

Insider Activity

In related news, EVP Rebecca Pearce sold 3,251 shares of the 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 sale, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 9,391 shares of company stock worth $2,909,885. Company insiders own 0.15% of the company's stock.

Autodesk Stock Performance

Autodesk stock traded up $5.48 during trading hours on Monday, hitting $302.50. The company had a trading volume of 933,570 shares, compared to its average volume of 1,799,252. The firm has a market cap of $64.74 billion, a PE ratio of 64.78, a PEG ratio of 2.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The firm has a 50-day moving average of $300.18 and a 200 day moving average of $286.26.

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.