Diversified Trust Co Boosts Stock Position in Autodesk, Inc. $ADSK

Key Points

• Diversified Trust Co increased its holdings in Autodesk, Inc. by 42.6% during the 2nd quarter, now owning 3,244 shares valued at $1,004,000.
• Several hedge funds have significantly increased their positions in Autodesk, with GAMMA Investing LLC raising its holdings by an astonishing 27,505.2% in the 1st quarter.
• Wall Street analysts are optimistic, with Barclays, Bank of America, and others raising their price targets for Autodesk, leading to an average target of $356.83 and a general rating of "Moderate Buy."

Diversified Trust Co boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 42.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,244 shares of the software company's stock after purchasing an additional 969 shares during the quarter. Diversified Trust Co's holdings in Autodesk were worth $1,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Autodesk by 27,505.2% in the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock valued at $384,985,000 after acquiring an additional 1,465,204 shares during the last quarter. Nuveen LLC bought a new stake in shares of Autodesk in the 1st quarter valued at approximately $278,383,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Autodesk by 44.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock valued at $868,736,000 after acquiring an additional 1,016,187 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Autodesk in the 4th quarter valued at approximately $148,299,000. Finally, AQR Capital Management LLC increased its holdings in shares of Autodesk by 336.7% in the 1st quarter. AQR Capital Management LLC now owns 572,701 shares of the software company's stock valued at $147,339,000 after acquiring an additional 441,571 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ADSK. Barclays boosted their price target on Autodesk from $355.00 to $385.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Bank of America boosted their price target on Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a report on Friday, August 29th. DA Davidson restated a "buy" rating and set a $375.00 price objective on shares of Autodesk in a research report on Friday, August 29th. Mizuho boosted their price objective on Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, Stifel Nicolaus boosted their price objective on Autodesk from $350.00 to $375.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Seventeen equities research 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 stock presently has an average rating of "Moderate Buy" and an average price target of $356.83.

Insiders Place Their Bets

In related news, EVP Ruth Ann Keene sold 2,761 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the transaction, the executive vice president directly owned 80,255 shares of the company's stock, valued at approximately $25,288,350.50. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven M. Blum sold 22,420 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $323.75, for a total value of $7,258,475.00. Following the transaction, the executive vice president directly owned 13,099 shares in the company, valued at $4,240,801.25. The trade was a 63.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,830 shares of company stock valued at $13,123,341 over the last ninety days. Corporate insiders own 0.15% of the company's stock.

Autodesk Stock Up 0.5%

Shares of Autodesk stock opened at $324.39 on Tuesday. The stock's fifty day moving average is $302.99 and its 200-day moving average is $289.00. The firm has a market capitalization of $69.10 billion, a PE ratio of 67.16, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a 12-month low of $232.67 and a 12-month high of $329.09.

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.

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