Headlands Technologies LLC Purchases New Stake in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Headlands Technologies LLC has acquired a new position in Autodesk, purchasing 20,551 shares valued at approximately $5.38 million in the first quarter.
• Institutional investors and hedge funds hold 90.24% of Autodesk's stock, indicating strong institutional interest in the company.
• Several analysts have upgraded Autodesk's rating, with DA Davidson giving it a "strong-buy" rating, while Wells Fargo raised its target price to $360.00.

Headlands Technologies LLC acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,551 shares of the software company's stock, valued at approximately $5,380,000.

Several other large investors also recently made changes to their positions in ADSK. Vanguard Group Inc. lifted its holdings in shares of Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock valued at $5,440,968,000 after acquiring an additional 397,458 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of Autodesk by 1.6% during the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after purchasing an additional 79,900 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Autodesk by 28.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock worth $902,597,000 after buying an additional 667,763 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Autodesk by 4.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after buying an additional 124,948 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Autodesk by 20.6% during the 4th quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock valued at $727,933,000 after buying an additional 420,838 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADSK. DA Davidson upgraded Autodesk to a "strong-buy" rating in a report on Tuesday, July 22nd. Wells Fargo & Company restated an "overweight" rating and issued a $360.00 target price (up from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. Piper Sandler lifted their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Loop Capital initiated coverage on Autodesk in a research note on Monday, July 21st. They set a "hold" rating and a $320.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $342.61.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $305.18 on Thursday. The company has a market cap of $65.31 billion, a PE ratio of 65.35, a P/E/G ratio of 2.88 and a beta of 1.46. Autodesk, Inc. has a fifty-two week low of $232.36 and a fifty-two week high of $326.62. The firm has a 50-day simple moving average of $300.42 and a 200 day simple moving average of $286.55. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the firm'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 value of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 9,391 shares of company stock worth $2,909,885 over the last three months. 0.15% of the stock is currently owned by corporate insiders.

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.

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