Comerica Bank Increases Stock Position in Autodesk, Inc. $ADSK

Key Points

• Comerica Bank has increased its holdings in Autodesk, Inc. by 14.5%, now owning 57,758 shares worth approximately $15.12 million.
• Several hedge funds have significantly increased their stakes in Autodesk, with T. Rowe Price and GAMMA Investing making particularly large investments during the recent quarters.
• Analyst reports reflect positive sentiment towards Autodesk, with the average target price set at $343.04, indicating a trend of growth expectations for the company's stock.

Comerica Bank increased its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 14.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,758 shares of the software company's stock after purchasing an additional 7,296 shares during the period. Comerica Bank's holdings in Autodesk were worth $15,121,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ADSK. Brighton Jones LLC raised its holdings in Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after buying an additional 147 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Autodesk by 12.1% during the 4th quarter. Integrated Wealth Concepts LLC now owns 5,723 shares of the software company's stock valued at $1,691,000 after buying an additional 620 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in Autodesk by 14.1% during the 4th quarter. Coldstream Capital Management Inc. now owns 5,211 shares of the software company's stock valued at $1,540,000 after buying an additional 645 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in Autodesk by 30.2% during the 4th quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock valued at $56,000 after buying an additional 42 shares during the last quarter. Finally, Quarry LP raised its holdings in Autodesk by 106.3% during the 4th quarter. Quarry LP now owns 229 shares of the software company's stock valued at $68,000 after buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insider Buying and Selling

In related news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction dated 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 directly owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 9,391 shares of company stock worth $2,909,885. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ADSK shares. UBS Group upped their price target on shares of Autodesk from $370.00 to $385.00 and gave the company a "buy" rating in a report on Friday. Oppenheimer upped their price target on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a report on Friday. Citigroup upped their price objective on shares of Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Stifel Nicolaus upped their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a report on Friday. Finally, Loop Capital assumed coverage on shares of Autodesk in a report on Monday, July 21st. They issued a "hold" rating and a $320.00 price objective for the company. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $355.22.

Autodesk Stock Up 9.1%

ADSK stock traded up $26.21 during trading on Friday, hitting $314.70. 4,903,855 shares of the stock traded hands, compared to its average volume of 1,620,912. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $326.62. The firm's 50 day moving average is $297.30 and its two-hundred day moving average is $284.69. The stock has a market cap of $67.35 billion, a price-to-earnings ratio of 67.39, a price-to-earnings-growth ratio of 2.75 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.

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.