Headlands Technologies LLC Makes New $5.38 Million Investment 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 purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,551 shares of the software company's stock, valued at approximately $5,380,000.

Several other hedge funds have also recently added to or reduced their stakes in ADSK. Costello Asset Management INC acquired a new stake in Autodesk during the first quarter worth approximately $26,000. Close Asset Management Ltd purchased a new position in Autodesk in the 1st quarter valued at $27,000. Cheviot Value Management LLC purchased a new stake in shares of Autodesk during the 1st quarter worth $27,000. Investment Management Corp VA ADV purchased a new stake in shares of Autodesk during the 4th quarter worth $29,000. Finally, Abound Financial LLC acquired a new position in shares of Autodesk during the 1st quarter worth $35,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Performance

ADSK stock traded down $5.32 during midday trading on Monday, hitting $285.36. The company's stock had a trading volume of 734,463 shares, compared to its average volume of 1,589,433. The stock's 50-day moving average price is $300.24 and its 200 day moving average price is $286.31. 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, Inc. has a 1 year low of $232.67 and a 1 year high of $326.62. The stock has a market cap of $61.07 billion, a price-to-earnings ratio of 61.16, a PEG ratio of 2.80 and a beta of 1.46.

Wall Street Analyst Weigh In

ADSK has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on shares of Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Bank of America increased their price objective on shares of Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $345.00 target price (up from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and issued a $350.00 price target (up previously from $323.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, DA Davidson raised Autodesk to a "strong-buy" rating in a research note on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $342.61.

Insiders Place Their Bets

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 9,391 shares of company stock worth $2,909,885. Corporate insiders own 0.15% of the company's stock.

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.