Merit Financial Group LLC Buys 5,255 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Merit Financial Group LLC boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 304.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,983 shares of the software company's stock after buying an additional 5,255 shares during the quarter. Merit Financial Group LLC's holdings in Autodesk were worth $1,828,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock valued at $849,858,000 after purchasing an additional 2,307,960 shares in the last quarter. Norges Bank bought a new stake in Autodesk in the fourth quarter worth approximately $632,566,000. Farallon Capital Management LLC bought a new stake in Autodesk in the fourth quarter worth approximately $544,381,000. GAMMA Investing LLC increased its holdings in shares of Autodesk by 27,505.2% during the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock valued at $384,985,000 after acquiring an additional 1,465,204 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock valued at $652,127,000 after acquiring an additional 670,699 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Down 0.1%

NASDAQ:ADSK traded down $0.36 during trading hours on Friday, reaching $297.86. 941,689 shares of the company traded hands, compared to its average volume of 1,576,952. The business's 50-day moving average price is $277.02 and its two-hundred day moving average price is $286.14. The stock has a market capitalization of $63.73 billion, a P/E ratio of 59.10, a P/E/G ratio of 2.94 and a beta of 1.47. Autodesk, Inc. has a 1 year low of $205.86 and a 1 year high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling

In related news, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the sale, the chief accounting officer now owns 3,003 shares of the company's stock, valued at approximately $802,671.87. The trade was a 44.95% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADSK has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $360.00 target price (up previously from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Bank of America increased their price target on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Robert W. Baird increased their price objective on Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. UBS Group increased their price objective on Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, DA Davidson set a $305.00 target price on Autodesk and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and a consensus target price of $337.45.

About Autodesk

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.