Horizon Investments LLC Boosts Position in Autodesk, Inc. $ADSK

Key Points

• Horizon Investments LLC increased its stake in Autodesk, Inc. by 137.4% in Q1, acquiring a total of 10,430 shares valued at approximately $2.73 million.
• Other institutional investors, such as Vanguard Group Inc. and UBS AM, have also raised their holdings in Autodesk, illustrating a robust interest from the institutional market.
• Analysts have a consensus rating of "Moderate Buy" for Autodesk, with the average price target set at $342.61, reflecting positive expectations for the company's stock performance.

Horizon Investments LLC boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 137.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,430 shares of the software company's stock after buying an additional 6,036 shares during the quarter. Horizon Investments LLC's holdings in Autodesk were worth $2,731,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ADSK. Brighton Jones LLC increased its holdings in Autodesk by 14.5% during the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after buying an additional 147 shares during the period. Mariner LLC increased its holdings in Autodesk by 3.7% during the fourth quarter. Mariner LLC now owns 27,948 shares of the software company's stock valued at $8,261,000 after buying an additional 1,006 shares during the period. Insigneo Advisory Services LLC increased its holdings in Autodesk by 10.1% during the fourth quarter. Insigneo Advisory Services LLC now owns 1,042 shares of the software company's stock valued at $308,000 after buying an additional 96 shares during the period. NewEdge Advisors LLC increased its holdings in Autodesk by 1.9% during the fourth quarter. NewEdge Advisors LLC now owns 12,170 shares of the software company's stock valued at $3,597,000 after buying an additional 229 shares during the period. Finally, Marshall Wace LLP increased its holdings in Autodesk by 16.1% during the fourth quarter. Marshall Wace LLP now owns 43,061 shares of the software company's stock valued at $12,728,000 after buying an additional 5,984 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly 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 filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 9,391 shares of company stock worth $2,909,885. Company insiders own 0.15% of the company's stock.

Autodesk Stock Performance

ADSK stock traded down $0.95 during trading on Wednesday, reaching $288.29. The company had a trading volume of 558,116 shares, compared to its average volume of 1,589,137. The firm has a 50-day simple moving average of $298.64 and a 200-day simple moving average of $285.50. The company has a market cap of $61.69 billion, a price-to-earnings ratio of 61.76, a price-to-earnings-growth ratio of 2.79 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.62.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ADSK shares. Berenberg Bank upgraded shares of Autodesk from a "hold" rating to a "buy" rating and raised their price target for the company from $325.00 to $365.00 in a report on Friday, June 27th. Oppenheimer restated an "outperform" rating and issued a $350.00 price target (up from $300.00) on shares of Autodesk in a report on Friday, May 23rd. Citigroup raised their price target on shares of Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Rosenblatt Securities restated a "buy" rating and issued a $340.00 price target on shares of Autodesk in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group raised their price target on shares of Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

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.