Blueshift Asset Management LLC Purchases Shares of 3,010 Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Blueshift Asset Management LLC acquired a new position in Autodesk, purchasing 3,010 shares valued at approximately $788,000 during the first quarter.
• Recent insider trading saw Autodesk EVP Rebecca Pearce sell 3,251 shares worth about $1.02 million, decreasing her stake in the company by 14.33%.
• Analysts have generally positive outlooks for Autodesk, with several firms increasing target prices; the average target price is now around $342.61 following multiple upgraded ratings.

Blueshift Asset Management LLC bought a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,010 shares of the software company's stock, valued at approximately $788,000.

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

Autodesk Price Performance

NASDAQ ADSK traded down $6.09 during trading on Friday, hitting $297.02. 1,303,875 shares of the company's stock were exchanged, compared to its average volume of 1,731,943. The company has a market cap of $63.56 billion, a PE ratio of 63.60, a P/E/G ratio of 2.86 and a beta of 1.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a fifty-two week low of $223.03 and a fifty-two week high of $326.62. The stock's 50 day moving average price is $300.18 and its two-hundred day moving average price is $286.28.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. KeyCorp restated an "overweight" rating and issued a $350.00 price target (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Macquarie reissued an "outperform" rating and set a $360.00 target price on shares of Autodesk in a research note on Friday, July 11th. Robert W. Baird lifted their price objective on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, DA Davidson upgraded shares of Autodesk to a "strong-buy" rating in a report on Tuesday, July 22nd. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $342.61.

Insider Buying and Selling

In other news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is owned by corporate insiders.

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.