GSA Capital Partners LLP Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• GSA Capital Partners LLP has acquired a new position in Autodesk, Inc. by purchasing 6,257 shares valued at approximately $1.64 million in the first quarter.
• Several analysts have raised their price targets for Autodesk, with Citigroup and Morgan Stanley setting new targets of $376.00 and $370.00, respectively, indicating a generally positive outlook for the company.
• Institutional investors dominate Autodesk's ownership, holding 90.24% of the company's stock, reflecting strong interest from large investment firms.

GSA Capital Partners LLP purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,257 shares of the software company's stock, valued at approximately $1,638,000.

Several other large investors have also recently added to or reduced their stakes in ADSK. Federated Hermes Inc. lifted its position in shares of Autodesk by 16.5% during the first quarter. Federated Hermes Inc. now owns 30,083 shares of the software company's stock worth $7,876,000 after purchasing an additional 4,262 shares during the last quarter. Canopy Partners LLC lifted its position in shares of Autodesk by 23.1% during the first quarter. Canopy Partners LLC now owns 886 shares of the software company's stock worth $232,000 after purchasing an additional 166 shares during the last quarter. Kirtland Hills Capital Management LLC acquired a new stake in Autodesk during the first quarter worth about $322,000. Meeder Asset Management Inc. raised its stake in Autodesk by 40.7% during the first quarter. Meeder Asset Management Inc. now owns 173 shares of the software company's stock worth $45,000 after acquiring an additional 50 shares during the period. Finally, Meeder Advisory Services Inc. raised its stake in Autodesk by 8.3% during the first quarter. Meeder Advisory Services Inc. now owns 5,484 shares of the software company's stock worth $1,436,000 after acquiring an additional 422 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ADSK shares. Oppenheimer reiterated an "outperform" rating and set a $350.00 price objective (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Barclays raised their price target on shares of Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Robert W. Baird raised their price objective on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Macquarie reiterated an "outperform" rating and set a $360.00 price objective on shares of Autodesk in a research note on Friday, July 11th. Finally, Mizuho lowered 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. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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 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 transaction, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by company insiders.

Autodesk Stock Down 1.6%

Shares of NASDAQ:ADSK traded down $5.03 during trading on Thursday, reaching $303.11. 1,491,655 shares of the company traded hands, compared to its average volume of 1,699,151. The firm has a fifty day simple moving average of $300.14 and a 200 day simple moving average of $286.25. The firm has a market cap of $64.87 billion, a P/E ratio of 64.91, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year 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.

Autodesk Profile

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.