FourThought Financial Partners LLC Purchases New Shares in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• FourThought Financial Partners LLC made a new investment in Autodesk, acquiring 891 shares valued at approximately $233,000 in the first quarter.
• Autodesk's stock currently has a consensus rating of "Moderate Buy" with a target price of $342.61 from multiple analysts.
• Insider activity includes EVP Rebecca Pearce selling 3,251 shares at $315.00, marking a 14.33% decrease in her ownership of the stock.

FourThought Financial Partners LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 891 shares of the software company's stock, valued at approximately $233,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ADSK. Close Asset Management Ltd bought a new stake in Autodesk during the 1st quarter worth about $27,000. Investment Management Corp VA ADV acquired a new position in Autodesk during the 4th quarter worth approximately $29,000. Abound Financial LLC acquired a new position in Autodesk during the 1st quarter worth approximately $35,000. AllSquare Wealth Management LLC boosted its holdings in shares of Autodesk by 161.3% in the 1st quarter. AllSquare Wealth Management LLC now owns 162 shares of the software company's stock valued at $42,000 after buying an additional 100 shares during the last quarter. Finally, Hurley Capital LLC acquired a new stake in shares of Autodesk in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Trading Down 0.3%

ADSK traded down $0.99 during trading on Thursday, hitting $307.15. The company's stock had a trading volume of 378,028 shares, compared to its average volume of 1,604,230. Autodesk, Inc. has a twelve month low of $223.03 and a twelve month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock's fifty day moving average price is $299.98 and its 200-day moving average price is $286.12. The firm has a market capitalization of $65.73 billion, a P/E ratio of 65.88, a PEG ratio of 2.95 and a beta of 1.44.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the transaction, the executive vice president directly owned 19,440 shares of the company's stock, valued at $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 9,391 shares of company stock worth $2,909,885 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on ADSK shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $345.00 price objective (up previously from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Macquarie reiterated an "outperform" rating and set a $360.00 price objective on shares of Autodesk in a research report on Friday, July 11th. Berenberg Bank upgraded Autodesk from a "hold" rating to a "buy" rating and increased their price objective for the stock from $325.00 to $365.00 in a research report on Friday, June 27th. Rosenblatt Securities reiterated a "buy" rating and set a $340.00 price objective on shares of Autodesk in a research report on Tuesday, May 20th. Finally, Loop Capital started coverage on Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 price objective on the stock. 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 presently has a consensus rating of "Moderate Buy" and an average target price of $342.61.

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.