Mackenzie Financial Corp Grows Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Mackenzie Financial Corp increased its stake in Autodesk, Inc. by 13.1%, owning 29,143 shares valued at approximately $7.63 million after acquiring an additional 3,368 shares.
• Institutional ownership is significant, with 90.24% of Autodesk's stock held by hedge funds and institutional investors, highlighting strong institutional interest in the company.
• Analysts have mixed ratings on Autodesk, with price targets ranging from $270.00 to $365.00 and an overall average rating of "Moderate Buy."

Mackenzie Financial Corp boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 13.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,143 shares of the software company's stock after buying an additional 3,368 shares during the period. Mackenzie Financial Corp's holdings in Autodesk were worth $7,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Close Asset Management Ltd acquired a new position in shares of Autodesk during the 1st quarter valued at about $27,000. Investment Management Corp VA ADV bought a new position in Autodesk during the fourth quarter worth about $29,000. Abound Financial LLC bought a new position in shares of Autodesk during the first quarter valued at $35,000. AllSquare Wealth Management LLC raised its stake in shares of Autodesk by 161.3% in the first quarter. AllSquare Wealth Management LLC now owns 162 shares of the software company's stock valued at $42,000 after acquiring an additional 100 shares during the last quarter. Finally, Hurley Capital LLC bought a new position in Autodesk in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Buying and Selling at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction on 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 sale, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This represents 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 link. Insiders have sold 9,391 shares of company stock valued at $2,909,885 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Autodesk Stock Down 2.0%

Shares of ADSK traded down $6.09 during trading hours on Friday, hitting $297.02. The stock had a trading volume of 1,303,875 shares, compared to its average volume of 1,731,943. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year high of $326.62. The firm has a 50 day simple moving average of $300.18 and a 200-day simple moving average of $286.28. The firm has a market capitalization of $63.56 billion, a P/E ratio of 63.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADSK. Robert W. Baird lifted their target price on Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Piper Sandler increased their target price on Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Citigroup increased their price objective on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Bank of America increased their price objective on Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Finally, Macquarie reissued an "outperform" rating and set a $360.00 price target on shares of Autodesk in a research report on Friday, July 11th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Autodesk currently has an average 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.