Formidable Asset Management LLC Invests $228,000 in Autodesk, Inc. (NASDAQ:ADSK)

Formidable Asset Management LLC purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 870 shares of the software company's stock, valued at approximately $228,000.

Several other institutional investors have also bought and sold shares of the stock. Investment Management Corp VA ADV bought a new stake in shares of Autodesk in the fourth quarter worth about $29,000. Mizuho Securities Co. Ltd. acquired a new position in Autodesk during the fourth quarter valued at approximately $30,000. Abound Financial LLC acquired a new position in Autodesk during the first quarter valued at approximately $35,000. Hurley Capital LLC acquired a new position in Autodesk during the fourth quarter valued at approximately $44,000. Finally, CoreCap Advisors LLC boosted its position in Autodesk by 212.0% during the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock valued at $46,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Performance

ADSK stock traded down $0.93 on Thursday, reaching $300.05. 272,189 shares of the company were exchanged, compared to its average volume of 1,624,366. The stock's fifty day moving average price is $299.08 and its 200 day moving average price is $285.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. The firm has a market capitalization of $64.21 billion, a PE ratio of 64.30, a PEG ratio of 2.89 and a beta of 1.44.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADSK. Piper Sandler raised their price objective on Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Mizuho cut their price objective on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. The Goldman Sachs Group increased their target price on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Loop Capital initiated coverage on Autodesk in a research note on Monday. They set a "hold" rating and a $320.00 target price on the stock. Finally, Robert W. Baird increased their target price on Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Autodesk currently has a consensus rating of "Moderate Buy" and an average price target of $342.61.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction 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 $6,123,600. This trade represents a 14.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 9,391 shares of company stock valued at $2,909,885. Company insiders own 0.15% of the company's stock.

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.