Maxi Investments CY Ltd Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Maxi Investments CY Ltd acquired a new position in Autodesk, purchasing 7,500 shares valued at approximately $1.964 million during Q1.
• Several institutional investors have recently added to their stakes in Autodesk, with overall ownership by institutional investors reaching 90.24%.
• Analysts have set new price targets for Autodesk, with revisions including a raise from $290 to $330 by Bank of America, while Morgan Stanley set a target of $370.

Maxi Investments CY Ltd acquired a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,500 shares of the software company's stock, valued at approximately $1,964,000.

Other hedge funds also recently bought and sold shares of the company. Spire Wealth Management boosted its position in Autodesk by 2.5% in the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after purchasing an additional 50 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Autodesk in the first quarter worth approximately $324,000. Cambridge Investment Research Advisors Inc. grew its position in Autodesk by 1.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock valued at $3,565,000 after buying an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Autodesk by 27.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock valued at $11,212,000 after buying an additional 9,222 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Autodesk by 5.4% in the first quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Mizuho cut their price target on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Oppenheimer restated an "outperform" rating and issued a $350.00 price target (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $360.00 price objective (up from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Piper Sandler increased their target price on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $342.61.

Autodesk Price Performance

Shares of Autodesk stock traded down $12.19 during trading on Thursday, reaching $292.99. 1,366,952 shares of the stock traded hands, compared to its average volume of 1,673,419. 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 $62.70 billion, a price-to-earnings ratio of 62.74, a P/E/G ratio of 2.94 and a beta of 1.46. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $326.62. The business has a fifty day simple moving average of $300.34 and a two-hundred day simple moving average of $286.56.

Insider Transactions at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 19,440 shares of the company's stock, valued at $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 9,391 shares of company stock valued at $2,909,885. Insiders own 0.15% of the company's stock.

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.