LGT Group Foundation Boosts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• LGT Group Foundation increased its stake in Autodesk, Inc. by 128.9% in Q1, now holding 314,583 shares valued at approximately $82.36 million, making Autodesk its 21st largest investment.
• Many institutional investors have been active, with notable transactions including Farallon Capital purchasing a new stake worth $544.38 million and GAMMA Investing increasing their holdings by over 27,505%.
• Analysts have set new price targets for Autodesk, with Wells Fargo raising its target from $345 to $360, contributing to a consensus rating of "Moderate Buy" with an average target price of $342.61.

LGT Group Foundation raised its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 128.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 314,583 shares of the software company's stock after purchasing an additional 177,151 shares during the quarter. Autodesk accounts for approximately 1.1% of LGT Group Foundation's portfolio, making the stock its 21st largest position. LGT Group Foundation owned about 0.15% of Autodesk worth $82,358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after purchasing an additional 147 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Autodesk by 18.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 30,647 shares of the software company's stock valued at $9,046,000 after purchasing an additional 4,690 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in Autodesk in the 4th quarter valued at approximately $509,000. Advisors Capital Management LLC boosted its holdings in shares of Autodesk by 37.8% during the 4th quarter. Advisors Capital Management LLC now owns 1,009 shares of the software company's stock worth $298,000 after buying an additional 277 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in Autodesk by 3.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,935 shares of the software company's stock valued at $2,641,000 after purchasing an additional 268 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Wall Street Analysts Forecast Growth

ADSK has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Bank of America raised 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. DA Davidson upgraded shares of Autodesk to a "strong-buy" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $345.00 price target (up previously from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Oppenheimer reiterated an "outperform" rating and set a $350.00 target price (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

Autodesk Price Performance

Shares of NASDAQ ADSK traded up $2.98 during midday trading on Friday, hitting $286.73. The stock had a trading volume of 1,149,378 shares, compared to its average volume of 1,432,251. The company has a market capitalization of $61.36 billion, a PE ratio of 61.40, a P/E/G ratio of 2.73 and a beta of 1.46. The stock has a 50 day simple moving average of $298.96 and a 200-day simple moving average of $285.92. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Transactions at Autodesk

In other 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 directly 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 filing with the SEC, which can be accessed through this hyperlink. 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 owned by company insiders.

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.