Meritage Portfolio Management reduced its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,525 shares of the software company's stock after selling 980 shares during the quarter. Meritage Portfolio Management's holdings in Autodesk were worth $8,515,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Autodesk by 14.5% in the fourth 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 in the last quarter. Jones Financial Companies Lllp raised its position in shares of Autodesk by 41.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,815 shares of the software company's stock valued at $1,423,000 after purchasing an additional 1,418 shares during the period. SBI Securities Co. Ltd. bought a new stake in Autodesk during the 4th quarter valued at approximately $332,000. Steward Partners Investment Advisory LLC boosted its holdings in Autodesk by 3.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 16,229 shares of the software company's stock valued at $4,797,000 after purchasing an additional 553 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Autodesk by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,345,471 shares of the software company's stock worth $397,681,000 after purchasing an additional 46,777 shares in the last quarter. Institutional investors own 90.24% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on ADSK shares. Citigroup raised their price target on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Barclays lifted their price target on shares of Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Oppenheimer restated an "outperform" rating and set a $350.00 target price (up from $300.00) on shares of Autodesk in a report on Friday, May 23rd. KeyCorp restated an "overweight" rating and set a $350.00 target price (up previously from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Finally, Morgan Stanley reiterated an "overweight" rating and set a $370.00 price objective (up previously from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $340.45.
Check Out Our Latest Stock Report on Autodesk
Insider Activity
In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 9,391 shares of company stock valued at $2,909,885. Company insiders own 0.15% of the company's stock.
Autodesk Stock Up 1.7%
ADSK stock traded up $5.42 during trading on Friday, hitting $315.76. 836,362 shares of the company's stock traded hands, compared to its average volume of 1,482,820. The firm has a market capitalization of $67.57 billion, a P/E ratio of 67.61, a PEG ratio of 2.99 and a beta of 1.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 1 year low of $223.03 and a 1 year high of $326.62. The business has a fifty day simple moving average of $294.48 and a two-hundred day simple moving average of $285.58.
Autodesk Profile
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Free Report)
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.
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