Fortis Capital Advisors LLC Takes Position in Autodesk, Inc. $ADSK

Key Points

• Fortis Capital Advisors LLC acquired a new position in Autodesk, purchasing 2,377 shares valued at approximately $622,000 during the first quarter.
• Several hedge funds increased their stakes in Autodesk, indicating significant institutional interest, with 90.24% of the stock currently held by institutional investors.
• Analysts have raised price targets for Autodesk, with Morgan Stanley increasing its target from $370 to $385 and the average rating improving to a "Moderate Buy".

Fortis Capital Advisors LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,377 shares of the software company's stock, valued at approximately $622,000.

A number of other hedge funds have also recently made changes to their positions in ADSK. Brighton Jones LLC grew its holdings in shares of Autodesk by 14.5% in the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock worth $343,000 after purchasing an additional 147 shares during the last quarter. CoreCap Advisors LLC grew its holdings in shares of Autodesk by 212.0% in the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock worth $46,000 after purchasing an additional 106 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Autodesk by 3.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 26,837 shares of the software company's stock worth $7,932,000 after purchasing an additional 801 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Autodesk by 7.0% in the fourth quarter. Gotham Asset Management LLC now owns 3,103 shares of the software company's stock worth $917,000 after purchasing an additional 204 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of Autodesk in the fourth quarter worth about $2,121,000. 90.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADSK. Morgan Stanley upped their price target on shares of Autodesk from $370.00 to $385.00 and gave the stock an "overweight" rating in a report on Sunday, August 31st. Rosenblatt Securities upped their price target on shares of Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Bank of America increased their target price on shares of Autodesk from $330.00 to $360.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. The Goldman Sachs Group increased their target price on shares of Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, KeyCorp increased their target price on shares of Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and an average price target of $356.83.

Autodesk Stock Down 0.4%

NASDAQ:ADSK opened at $323.80 on Thursday. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09. 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. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. The company's 50-day simple moving average is $300.14 and its 200-day simple moving average is $286.15.

Insider Activity

In other news, EVP Steven M. Blum sold 22,420 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 13,099 shares in the company, valued at approximately $4,240,801.25. This trade represents a 63.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the sale, the director owned 4,393 shares in the company, valued at $1,427,725. This represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,860 shares of company stock valued at $14,045,061 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

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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