Foresight Group Ltd Liability Partnership Invests $30.41 Million in Autodesk, Inc. $ADSK

Key Points

• Foresight Group Ltd Liability Partnership has invested approximately $30.41 million in Autodesk, acquiring 116,153 shares, representing about 4.4% of their portfolio.
• Several analysts have raised their price targets for Autodesk, with Mizuho and DA Davidson setting new targets at $375.00, indicating strong bullish sentiment.
• Insider activity shows significant sales, including EVP Steven M. Blum selling 22,420 shares for over $7.25 million, which has decreased his ownership by 63.12%.

Foresight Group Ltd Liability Partnership purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 116,153 shares of the software company's stock, valued at approximately $30,409,000. Autodesk comprises approximately 4.4% of Foresight Group Ltd Liability Partnership's holdings, making the stock its 6th biggest position. Foresight Group Ltd Liability Partnership owned 0.05% of Autodesk as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Cheviot Value Management LLC bought a new position in Autodesk in the 1st quarter valued at approximately $27,000. SouthState Corp grew its position in Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after purchasing an additional 80 shares during the period. Investment Management Corp VA ADV purchased a new stake in Autodesk during the fourth quarter valued at $29,000. Costello Asset Management INC bought a new position in shares of Autodesk in the 1st quarter worth approximately $26,000. Finally, Close Asset Management Ltd bought a new position in Autodesk in the first quarter worth approximately $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADSK. Mizuho boosted their price target on Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a report on Friday, August 29th. DA Davidson reaffirmed a "buy" rating and set a $375.00 price objective on shares of Autodesk in a research report on Friday, August 29th. Citigroup boosted their price objective on Autodesk from $376.00 to $393.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. KeyCorp raised their target price on shares of Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Finally, Rosenblatt Securities lifted their price target on shares of Autodesk from $345.00 to $355.00 and gave the company a "buy" rating in a report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and an average price target of $356.83.

Insider Activity at Autodesk

In related news, 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 transaction of $7,258,475.00. Following the completion of the transaction, the executive vice president owned 13,099 shares in the company, valued at approximately $4,240,801.25. This represents a 63.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were 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 $25,288,350.50. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,860 shares of company stock valued at $14,045,061. Corporate insiders own 0.15% of the company's stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $323.80 on Thursday. The stock has a 50-day moving average price of $300.14 and a 200 day moving average price of $286.15. The stock has a market capitalization of $68.97 billion, a P/E ratio of 67.04, a P/E/G ratio of 2.88 and a beta of 1.49. Autodesk, Inc. has a 12-month low of $232.67 and a 12-month high of $329.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91.

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.

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