Caxton Associates LLP Takes $17.49 Million Position in Autodesk, Inc. $ADSK

Key Points

• Caxton Associates LLP invested approximately $17.49 million in Autodesk, acquiring 66,817 shares during the first quarter, making it the firm's 24th largest holding.
• Several hedge funds have increased their stakes in Autodesk, with institutional investors currently owning 90.24% of the company's stock.
• Analysts are optimistic about Autodesk, with multiple firms raising their price targets, leading to a consensus rating of "Moderate Buy" and an average target price of $356.83.

Caxton Associates LLP bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 66,817 shares of the software company's stock, valued at approximately $17,493,000. Autodesk makes up about 0.6% of Caxton Associates LLP's investment portfolio, making the stock its 24th largest position.

Other institutional investors also recently made changes to their positions in the company. SouthState Corp boosted its position in shares of Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Autodesk during the 1st quarter worth $26,000. Close Asset Management Ltd purchased a new stake in shares of Autodesk during the 1st quarter worth $27,000. Cheviot Value Management LLC purchased a new stake in shares of Autodesk during the 1st quarter worth $27,000. Finally, Investment Management Corp VA ADV purchased a new stake in shares of Autodesk during the 4th quarter worth $29,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADSK. Citigroup boosted their price objective on shares of Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. DA Davidson reiterated a "buy" rating and issued a $375.00 price objective on shares of Autodesk in a research report on Friday, August 29th. Robert W. Baird boosted their price objective on shares of Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Rosenblatt Securities boosted their price objective on shares of Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Mizuho boosted their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $356.83.

Insider Activity at Autodesk

In other news, EVP Ruth Ann Keene sold 2,761 shares of Autodesk 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 sale, the executive vice president owned 80,255 shares in the company, valued at $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 is available at this hyperlink. Also, EVP Steven M. Blum sold 22,420 shares of Autodesk stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the sale, the executive vice president owned 13,099 shares in the company, valued at $4,240,801.25. This represents a 63.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,860 shares of company stock worth $14,045,061. 0.15% of the stock is owned by insiders.

Autodesk Trading Down 1.7%

Shares of NASDAQ ADSK traded down $5.47 on Friday, reaching $319.05. 1,077,474 shares of the company traded hands, compared to its average volume of 1,685,043. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09. The company has a 50 day moving average of $300.38 and a 200 day moving average of $286.67. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $67.96 billion, a PE ratio of 66.06, a P/E/G ratio of 2.88 and a beta of 1.49.

Autodesk 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.