Bwcp LP Grows Position in Autodesk, Inc. $ADSK

Key Points

• Bwcp LP increased its stake in Autodesk by 30.5% during the 1st quarter, now owning 112,325 shares valued at approximately $29.4 million.
• Multiple large investors have also raised their stakes in Autodesk, including T. Rowe Price Investment Management Inc., which increased their holdings by 44.1% in the same quarter.
• Analyst ratings for Autodesk have improved, with several firms raising target prices, indicating strong future potential and an overall "Moderate Buy" consensus rating.

Bwcp LP boosted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 30.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,325 shares of the software company's stock after buying an additional 26,240 shares during the quarter. Autodesk accounts for approximately 6.0% of Bwcp LP's holdings, making the stock its 3rd biggest holding. Bwcp LP owned about 0.05% of Autodesk worth $29,407,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ADSK. Cheviot Value Management LLC acquired a new position in shares of Autodesk in the 1st quarter valued at approximately $27,000. SouthState Corp lifted its position in shares of Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after buying an additional 80 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of Autodesk in the 4th quarter worth about $29,000. Costello Asset Management INC bought a new position in shares of Autodesk in the 1st quarter worth about $26,000. Finally, Close Asset Management Ltd bought a new position in shares of Autodesk in the 1st quarter worth about $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Price Performance

Shares of ADSK traded up $6.44 during mid-day trading on Friday, hitting $326.37. The company's stock had a trading volume of 1,632,149 shares, compared to its average volume of 1,784,814. The firm has a 50-day moving average price of $299.25 and a 200 day moving average price of $285.36. The stock has a market capitalization of $69.52 billion, a price-to-earnings ratio of 67.57, a PEG ratio of 2.89 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.65. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $326.85.

Analysts Set New Price Targets

ADSK has been the topic of several recent research reports. Berenberg Bank set a $370.00 price objective on shares of Autodesk in a research report on Monday, September 1st. Royal Bank Of Canada lifted their price objective on shares of Autodesk from $345.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Oppenheimer lifted their price objective on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Barclays lifted their price objective on shares of Autodesk from $355.00 to $385.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Finally, BMO Capital Markets raised their target price on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research note on Friday, May 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

Insider Transactions at Autodesk

In related news, 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 sale, the executive vice president directly owned 80,255 shares in the company, valued at approximately $25,288,350.50. This trade represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the sale, the director owned 4,393 shares of the company's stock, valued at approximately $1,427,725. This represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,440 shares of company stock valued at $6,786,586 over the last ninety days. Corporate insiders own 0.15% of the company's stock.

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.