GAMMA Investing LLC Raises Position in Autodesk, Inc. (NASDAQ:ADSK)

GAMMA Investing LLC lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 27,505.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,470,531 shares of the software company's stock after purchasing an additional 1,465,204 shares during the quarter. GAMMA Investing LLC owned 0.69% of Autodesk worth $384,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Y.D. More Investments Ltd grew its stake in shares of Autodesk by 1.0% during the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company's stock worth $1,000,000 after buying an additional 35 shares during the last quarter. Journey Strategic Wealth LLC grew its stake in shares of Autodesk by 4.6% during the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company's stock worth $247,000 after buying an additional 37 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of Autodesk by 3.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,081 shares of the software company's stock worth $320,000 after buying an additional 39 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Autodesk by 9.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 503 shares of the software company's stock worth $149,000 after buying an additional 42 shares during the last quarter. Finally, FineMark National Bank & Trust grew its stake in shares of Autodesk by 1.3% during the fourth quarter. FineMark National Bank & Trust now owns 3,377 shares of the software company's stock worth $998,000 after buying an additional 42 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Up 0.2%

Shares of ADSK traded up $0.45 on Wednesday, reaching $299.97. The company's stock had a trading volume of 322,082 shares, compared to its average volume of 1,590,512. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a twelve month low of $205.86 and a twelve month high of $326.62. The stock has a market capitalization of $64.18 billion, a PE ratio of 59.52, a PEG ratio of 2.94 and a beta of 1.47. The firm has a fifty day moving average of $275.56 and a 200-day moving average of $286.08.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADSK. KeyCorp reaffirmed an "overweight" rating and set a $350.00 target price (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Mizuho reduced their price objective on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price objective on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company reissued an "overweight" rating and issued a $360.00 price objective (up previously from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Piper Sandler boosted their price objective on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. 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 an average rating of "Moderate Buy" and an average price target of $337.45.

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.