Autodesk, Inc. $ADSK Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its holdings in Autodesk, Inc. by 10.8% during the first quarter, owning 25,058 shares worth approximately $6.63 million.
• Institutional investors and hedge funds collectively hold 90.24% of Autodesk's stock, reflecting strong institutional interest in the company.
• Recent analyst reports have boosted Autodesk's price targets, with Oppenheimer setting a new target of $350 from a previous $300, indicating positive sentiment in the market.

Ethic Inc. lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,058 shares of the software company's stock after buying an additional 2,446 shares during the period. Ethic Inc.'s holdings in Autodesk were worth $6,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after buying an additional 397,458 shares in the last quarter. Ninety One UK Ltd lifted its stake 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 lifted its stake in shares of Autodesk by 28.0% in 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 worth $902,597,000 after buying an additional 667,763 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake 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 worth $785,470,000 after purchasing an additional 124,948 shares during the period. Finally, Northern Trust Corp raised its stake in Autodesk by 20.6% during the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock worth $727,933,000 after purchasing an additional 420,838 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Down 0.2%

Shares of ADSK traded down $0.4710 during trading on Wednesday, reaching $288.7690. 616,203 shares of the company traded hands, compared to its average volume of 1,589,484. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.62. The stock has a market cap of $61.80 billion, a PE ratio of 61.86, a price-to-earnings-growth ratio of 2.79 and a beta of 1.46. The stock has a 50-day simple moving average of $298.64 and a 200-day simple moving average of $285.50. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ADSK shares. KeyCorp reaffirmed an "overweight" rating and set a $350.00 target price (up from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $345.00 target price (up from $313.0345) on shares of Autodesk in a research note on Friday, May 23rd. Barclays lifted their target price on shares of Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Robert W. Baird lifted their target price on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Berenberg Bank raised shares of Autodesk from a "hold" rating to a "buy" rating and lifted their target price for the stock from $325.00 to $365.00 in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned 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 $342.61.

Insider Buying and Selling at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction that occurred 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 owned 19,440 shares in the company, valued at approximately $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 9,391 shares of company stock worth $2,909,885 in the last ninety days. 0.15% of the stock is owned by company insiders.

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.