Handelsbanken Fonder AB Boosts Position in Autodesk, Inc. (NASDAQ:ADSK)

Handelsbanken Fonder AB lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,270 shares of the software company's stock after acquiring an additional 1,412 shares during the period. Handelsbanken Fonder AB owned about 0.06% of Autodesk worth $33,057,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after acquiring an additional 2,307,960 shares in the last quarter. Norges Bank acquired a new stake in shares of Autodesk in the fourth quarter worth about $632,566,000. Farallon Capital Management LLC acquired a new position in Autodesk during the 4th quarter worth $544,381,000. GAMMA Investing LLC grew its stake in shares of Autodesk by 27,505.2% in the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after acquiring an additional 1,465,204 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Autodesk by 43.7% in the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock valued at $652,127,000 after purchasing an additional 670,699 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADSK. The Goldman Sachs Group raised their target price on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $345.00 price target (up from $313.03) on shares of Autodesk in a report on Friday, May 23rd. Stifel Nicolaus lifted their price target on Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Scotiabank lowered their price objective on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, Citigroup increased their price target on shares of Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $337.45.

Insider Activity at Autodesk

In other news, Director John T. Cahill purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company's stock, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at $802,671.87. This trade represents 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 corporate insiders.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded up $2.12 during trading on Thursday, reaching $298.89. 280,272 shares of the stock were exchanged, compared to its average volume of 1,553,585. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market cap of $63.96 billion, a PE ratio of 59.30, a PEG ratio of 2.94 and a beta of 1.45. The stock has a 50-day moving average price of $280.10 and a 200-day moving average price of $285.73. Autodesk, Inc. has a 12 month low of $214.51 and a 12 month 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.