Livforsakringsbolaget Skandia Omsesidigt Has $6.46 Million Stock Position in Autodesk, Inc. $ADSK

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Autodesk, Inc. by 31.5%, acquiring an additional 5,000 shares, bringing their total holdings to 20,886 shares worth $6,462,000.
• Institutional investors collectively own 90.24% of Autodesk's stock, indicating strong market confidence in the company.
• Analysts have issued positive ratings for Autodesk, with a consensus target price of $356.83 and multiple firms upgrading their price objectives above $360.

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 31.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,886 shares of the software company's stock after purchasing an additional 5,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Autodesk were worth $6,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. IFM Investors Pty Ltd increased its stake in shares of Autodesk by 5.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 45,152 shares of the software company's stock valued at $13,978,000 after buying an additional 2,177 shares during the period. Bigelow Investment Advisors LLC increased its stake in shares of Autodesk by 3.7% in the 2nd quarter. Bigelow Investment Advisors LLC now owns 1,599 shares of the software company's stock valued at $495,000 after buying an additional 57 shares during the period. Fulton Bank N.A. acquired a new stake in shares of Autodesk in the 2nd quarter valued at $240,000. NorthCrest Asset Manangement LLC acquired a new stake in shares of Autodesk in the 2nd quarter valued at $355,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Autodesk by 21.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 52,102 shares of the software company's stock valued at $16,498,000 after buying an additional 9,276 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Down 0.1%

Shares of Autodesk stock traded down $0.26 during trading on Tuesday, reaching $324.13. The stock had a trading volume of 387,579 shares, compared to its average volume of 1,620,707. The company has a market capitalization of $69.04 billion, a price-to-earnings ratio of 67.11, a P/E/G ratio of 2.86 and a beta of 1.49. The stock has a fifty day moving average price of $302.99 and a two-hundred day moving average price of $289.00. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADSK. Macquarie raised their price target on Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Barclays raised their price target on Autodesk from $355.00 to $385.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Stifel Nicolaus raised their price target on Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Oppenheimer raised their price target on Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, Rosenblatt Securities raised their price target on Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $356.83.

Insider Transactions at Autodesk

In related news, EVP Rebecca Pearce sold 6,129 shares of Autodesk stock in a transaction dated 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 owned 13,311 shares of the company's stock, valued at approximately $4,300,251.66. The trade was a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ayanna Howard sold 3,159 shares of Autodesk stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $325.00, for a total value of $1,026,675.00. Following the completion of the sale, the director directly owned 4,393 shares in the company, valued at approximately $1,427,725. This represents a 41.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,830 shares of company stock valued at $13,123,341. 0.15% of the stock is currently 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.