Jupiter Asset Management Ltd. Purchases 198,794 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Jupiter Asset Management Ltd. significantly increased its stake in Autodesk, Inc. by 431.3%, now holding approximately 0.11% of the company valued at $64.11 million.
• As of the latest reports, Autodesk shares have a price objective ranging between $330.00 and $376.00 based on upgrades from several major financial institutions.
• The company's stock performance shows a 52-week range with a low of $223.03 and a high of $326.62, contributing to a current market cap of $63.56 billion.

Jupiter Asset Management Ltd. lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 431.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 244,884 shares of the software company's stock after buying an additional 198,794 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.11% of Autodesk worth $64,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Blueshift Asset Management LLC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $788,000. Commerce Bank lifted its holdings in shares of Autodesk by 0.4% in the 1st quarter. Commerce Bank now owns 16,763 shares of the software company's stock worth $4,389,000 after purchasing an additional 69 shares in the last quarter. NorthRock Partners LLC lifted its holdings in shares of Autodesk by 2.9% in the 1st quarter. NorthRock Partners LLC now owns 2,800 shares of the software company's stock worth $733,000 after purchasing an additional 80 shares in the last quarter. FSB Premier Wealth Management Inc. lifted its holdings in shares of Autodesk by 23.9% in the 1st quarter. FSB Premier Wealth Management Inc. now owns 1,450 shares of the software company's stock worth $380,000 after purchasing an additional 280 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its holdings in shares of Autodesk by 32.8% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 1,339 shares of the software company's stock worth $331,000 after purchasing an additional 331 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was 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 owned 19,440 shares of the company's stock, valued at approximately $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 9,391 shares of company stock worth $2,909,885 over the last ninety days. 0.15% of the stock is currently owned by insiders.

Autodesk Price Performance

ADSK stock traded up $5.48 during mid-day trading on Monday, reaching $302.50. 933,570 shares of the company traded hands, compared to its average volume of 1,799,252. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $64.74 billion, a P/E ratio of 64.78, a P/E/G ratio of 2.86 and a beta of 1.46. Autodesk, Inc. has a 52-week low of $223.03 and a 52-week high of $326.62. The company has a fifty day moving average price of $300.18 and a 200-day moving average price of $286.26.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADSK. Mizuho cut their target price on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Citigroup raised their price objective on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Oppenheimer reaffirmed an "outperform" rating and set a $350.00 price objective (up from $300.00) on shares of Autodesk in a report on Friday, May 23rd. Loop Capital initiated coverage on shares of Autodesk in a report on Monday, July 21st. They set a "hold" rating and a $320.00 price objective on the stock. Finally, BMO Capital Markets lifted their price objective on shares of Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Autodesk has a consensus rating of "Moderate Buy" and an average price target 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.