Guggenheim Capital LLC Has $27.13 Million Stock Position in Autodesk, Inc. $ADSK

Key Points

• Guggenheim Capital LLC reduced its stake in Autodesk by 10.5%, holding 103,616 shares worth approximately $27.13 million as of the end of the first quarter.
• Several institutional investors have significantly increased their stakes in Autodesk, with Farallon Capital Management acquiring a new stake valued at about $544.38 million in the fourth quarter.
• Analysts maintain a positive outlook on Autodesk, with several brokerages setting price targets ranging from $320.00 to $370.00 after recent re-evaluations.

Guggenheim Capital LLC lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,616 shares of the software company's stock after selling 12,175 shares during the quarter. Guggenheim Capital LLC's holdings in Autodesk were worth $27,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADSK. Farallon Capital Management LLC acquired a new stake in Autodesk in the 4th quarter valued at approximately $544,381,000. GAMMA Investing LLC grew its holdings in shares of Autodesk by 27,505.2% during the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after purchasing an additional 1,465,204 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $278,383,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Autodesk by 44.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock worth $868,736,000 after purchasing an additional 1,016,187 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Autodesk by 43.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock worth $652,127,000 after purchasing an additional 670,699 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADSK. Wells Fargo & Company reissued an "overweight" rating and set a $360.00 price objective (up previously from $345.00) on shares of Autodesk in a report on Friday, May 23rd. BMO Capital Markets raised their target price on Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research report on Friday, May 23rd. Oppenheimer restated an "outperform" rating and set a $350.00 target price (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and set a $370.00 target price (up previously from $330.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Loop Capital assumed coverage on Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and an average price target of $343.04.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 9,391 shares of company stock worth $2,909,885 in the last ninety days. Insiders own 0.15% of the company's stock.

Autodesk Price Performance

Autodesk stock opened at $282.45 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $60.44 billion, a P/E ratio of 60.48, a P/E/G ratio of 2.74 and a beta of 1.46. The business's fifty day moving average is $297.62 and its two-hundred day moving average is $284.80. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.62.

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.

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