Canada Pension Plan Investment Board Grows Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• The Canada Pension Plan Investment Board increased its stake in Autodesk by 143.8%, acquiring an additional 148,484 shares, bringing its total ownership to approximately 251,754 shares worth $65.9 million.
• The stock has received increased target prices from various analysts, with Goldman Sachs setting a new target of $300 and Royal Bank of Canada increasing theirs to $380, reflecting a consensus rating of "Moderate Buy."
• Insiders, including Director Ayanna Howard and EVP Rebecca Pearce, sold a total of 18,679 shares of Autodesk in recent months, indicating a combined decrease of approximately 41.83% and 31.53% in their respective holdings.

Canada Pension Plan Investment Board boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 143.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 251,754 shares of the software company's stock after purchasing an additional 148,484 shares during the quarter. Canada Pension Plan Investment Board owned about 0.12% of Autodesk worth $65,909,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of Autodesk by 14.5% during the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after acquiring an additional 147 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Autodesk by 40.7% during the fourth quarter. AQR Capital Management LLC now owns 131,130 shares of the software company's stock valued at $38,758,000 after buying an additional 37,942 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Autodesk by 90.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 40,824 shares of the software company's stock valued at $12,066,000 after buying an additional 19,374 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Autodesk during the fourth quarter valued at approximately $7,068,000. Finally, AXA S.A. boosted its position in shares of Autodesk by 27.0% during the fourth quarter. AXA S.A. now owns 733,413 shares of the software company's stock valued at $216,775,000 after buying an additional 155,745 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on ADSK shares. Piper Sandler boosted their price objective on Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Mizuho boosted their price objective on Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Robert W. Baird boosted their price objective on Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Macquarie boosted their price objective on Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, Bank of America boosted their price objective on Autodesk from $330.00 to $360.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $356.83.

Autodesk Stock Up 0.3%

Shares of NASDAQ:ADSK traded up $0.86 during trading on Thursday, hitting $318.37. The stock had a trading volume of 636,511 shares, compared to its average volume of 1,622,891. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $326.62. The company has a market capitalization of $68.13 billion, a PE ratio of 65.87, a PEG ratio of 3.03 and a beta of 1.49. The firm's fifty day moving average is $298.53 and its 200 day moving average is $285.13. The company has a quick ratio of 0.65, a current ratio of 0.76 and a debt-to-equity ratio of 0.91.

Insiders Place Their Bets

In other Autodesk news, Director Ayanna Howard sold 3,159 shares of the business'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 directly owned 4,393 shares of the company's stock, valued at $1,427,725. The trade was a 41.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rebecca Pearce sold 6,129 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $323.06, for a total value of $1,980,034.74. Following the sale, the executive vice president owned 13,311 shares of the company's stock, valued at approximately $4,300,251.66. This represents a 31.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,679 shares of company stock worth $5,916,595. Company 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.