Exchange Traded Concepts LLC Has $25.46 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Exchange Traded Concepts LLC lifted its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 13.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,262 shares of the software company's stock after buying an additional 11,762 shares during the period. Exchange Traded Concepts LLC's holdings in Autodesk were worth $25,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Autodesk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock worth $6,025,331,000 after acquiring an additional 119,034 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock worth $1,391,145,000 after purchasing an additional 45,623 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Autodesk by 28.0% during the 4th 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 purchasing an additional 667,763 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock valued at $849,858,000 after purchasing an additional 2,307,960 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Autodesk by 20.6% in the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock valued at $727,933,000 after buying an additional 420,838 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Insider Activity

In other news, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at $802,671.87. The trade was a 44.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by company insiders.

Autodesk Trading Down 2.1%

Shares of ADSK stock traded down $6.41 during trading hours on Friday, reaching $292.16. The company had a trading volume of 1,129,695 shares, compared to its average volume of 1,536,855. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $62.52 billion, a price-to-earnings ratio of 57.97, a P/E/G ratio of 2.94 and a beta of 1.45. The company has a 50 day moving average of $282.27 and a 200 day moving average of $285.37.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADSK. Rosenblatt Securities reaffirmed a "buy" rating and set a $340.00 price objective on shares of Autodesk in a report on Tuesday, May 20th. UBS Group raised their price target on Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a report on Friday, February 28th. Barclays boosted their price objective on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. BMO Capital Markets raised their target price on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group lifted their price target on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and an average price target of $337.45.

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.