Cumberland Partners Ltd Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Cumberland Partners Ltd took a new position in Autodesk, acquiring 20,433 shares valued at approximately $5.35 million during the first quarter.
• Institutional ownership in Autodesk has risen significantly, with 90.24% of the company's stock currently held by institutional investors and hedge funds.
• Analysts have set a consensus price target of $342.61 for Autodesk, with 16 out of 24 analysts rating the stock as a "buy" or "strong buy."

Cumberland Partners Ltd acquired a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,433 shares of the software company's stock, valued at approximately $5,349,000.

Several other hedge funds have also bought and sold shares of ADSK. Ninety One UK Ltd lifted its position in shares of Autodesk by 1.6% in the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after buying an additional 79,900 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock valued at $902,597,000 after purchasing an additional 667,763 shares during the period. Massachusetts Financial Services Co. MA raised its position in Autodesk by 4.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after purchasing an additional 124,948 shares during the period. Northern Trust Corp raised its position in Autodesk by 20.6% during the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock valued at $727,933,000 after purchasing an additional 420,838 shares during the period. Finally, Invesco Ltd. raised its position in Autodesk by 8.7% during the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company's stock valued at $704,419,000 after purchasing an additional 191,666 shares during the period. Institutional investors own 90.24% of the company's stock.

Insider Buying and Selling at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the transaction, the executive vice president directly owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by company insiders.

Autodesk Stock Up 1.8%

NASDAQ ADSK traded up $5.48 during trading hours on Monday, reaching $302.50. 933,570 shares of the company's stock were exchanged, compared to its average volume of 1,799,252. The company's 50-day moving average is $300.18 and its two-hundred day moving average is $286.26. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $64.74 billion, a price-to-earnings ratio of 64.78, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

Analyst Ratings Changes

A number of brokerages have issued reports on ADSK. Berenberg Bank upgraded Autodesk from a "hold" rating to a "buy" rating and upped their price objective for the company from $325.00 to $365.00 in a research report on Friday, June 27th. Bank of America increased their price target on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Barclays increased their price target on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Mizuho reduced their price target on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Macquarie reiterated an "outperform" rating and issued a $360.00 price target on shares of Autodesk in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $342.61.

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.