Institute for Wealth Management LLC. Boosts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Institute for Wealth Management LLC. raised its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 135.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,829 shares of the software company's stock after buying an additional 1,052 shares during the period. Institute for Wealth Management LLC.'s holdings in Autodesk were worth $479,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ADSK. Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $849,858,000 after buying an additional 2,307,960 shares during the last quarter. Norges Bank bought a new stake in shares of Autodesk in the 4th quarter worth approximately $632,566,000. Farallon Capital Management LLC purchased a new stake in shares of Autodesk in the fourth quarter worth $544,381,000. GAMMA Investing LLC increased its holdings in shares of Autodesk by 27,505.2% during 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. Finally, Janus Henderson Group PLC increased its holdings in shares of Autodesk by 43.7% during 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

In related news, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rebecca Pearce sold 486 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $300.00, for a total transaction of $145,800.00. Following the sale, the executive vice president now directly owns 28,345 shares of the company's stock, valued at approximately $8,503,500. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,995 shares of company stock valued at $816,082 in the last quarter. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Oppenheimer reiterated an "outperform" rating and issued a $350.00 target price (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. BMO Capital Markets increased their price target on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a report on Friday, May 23rd. The Goldman Sachs Group boosted their price objective on shares of Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, Scotiabank cut their target price on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and a consensus target price of $337.45.

Autodesk Stock Down 0.6%

ADSK stock opened at $295.19 on Friday. The company has a market cap of $63.17 billion, a price-to-earnings ratio of 63.21, a P/E/G ratio of 2.84 and a beta of 1.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The business's 50-day moving average is $285.54 and its two-hundred day moving average is $285.52. Autodesk, Inc. has a fifty-two week low of $223.03 and a fifty-two week high of $326.62.

Autodesk Company 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.

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