Ieq Capital LLC Grows Stock Position in Autodesk, Inc. $ADSK

Key Points

• Ieq Capital LLC increased its holdings in Autodesk by 121.8% in the first quarter, acquiring an additional 19,682 shares, bringing their total stake to 35,840 shares valued at approximately $9.38 million.
• Major institutional investors including Brighton Jones LLC, Quarry LP, and Lido Advisors LLC have also significantly boosted their positions in Autodesk during the past quarter, showcasing strong investor interest in the company.
• Several equity analysts have raised their price targets for Autodesk, with Morgan Stanley setting a new target of $370.00 and a consensus rating of "Moderate Buy" among analysts.

Ieq Capital LLC lifted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 121.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 35,840 shares of the software company's stock after purchasing an additional 19,682 shares during the period. Ieq Capital LLC's holdings in Autodesk were worth $9,383,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ADSK. Farallon Capital Management LLC bought a new stake in Autodesk in the fourth quarter valued at $544,381,000. GAMMA Investing LLC boosted its holdings in Autodesk by 27,505.2% in the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock valued at $384,985,000 after acquiring an additional 1,465,204 shares in the last quarter. Nuveen LLC bought a new stake in Autodesk in the first quarter valued at $278,383,000. T. Rowe Price Investment Management Inc. boosted its holdings in Autodesk by 44.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock valued at $868,736,000 after acquiring an additional 1,016,187 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Autodesk by 43.7% in the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock valued at $652,127,000 after acquiring an additional 670,699 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Insider Activity at Autodesk

In other news, Director Ayanna Howard sold 3,159 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the sale, the director directly owned 4,393 shares of the company's stock, valued at $1,427,725. This represents a 41.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $323.06, for a total value of $1,980,034.74. Following the sale, the executive vice president directly owned 13,311 shares in the company, valued at $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,679 shares of company stock worth $5,916,595 over the last ninety days. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ADSK. Bank of America raised their price objective on Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a research report on Friday. KeyCorp raised their price objective on Autodesk from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday. Berenberg Bank set a $370.00 price objective on Autodesk in a research report on Monday. Morgan Stanley reissued an "overweight" rating on shares of Autodesk in a research report on Sunday. Finally, Robert W. Baird lifted their price target on Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research report on Friday. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $355.43.

Autodesk Price Performance

ADSK stock traded up $26.21 during midday trading on Monday, hitting $314.70. The company's stock had a trading volume of 4,903,855 shares, compared to its average volume of 1,698,110. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $67.35 billion, a price-to-earnings ratio of 65.16, a price-to-earnings-growth ratio of 3.03 and a beta of 1.49. The company has a 50 day moving average of $297.65 and a two-hundred day moving average of $284.58.

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.