MIG Capital LLC Acquires New Position in Autodesk, Inc. $ADSK

Key Points

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MIG Capital LLC purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,292 shares of the software company's stock, valued at approximately $600,000.

Other large investors have also recently added to or reduced their stakes in the company. SouthState Corp increased its holdings in Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Costello Asset Management INC acquired a new stake in Autodesk in the 1st quarter valued at $26,000. Close Asset Management Ltd acquired a new stake in Autodesk in the 1st quarter valued at $27,000. Cheviot Value Management LLC purchased a new position in Autodesk in the 1st quarter valued at about $27,000. Finally, Investment Management Corp VA ADV purchased a new position in Autodesk in the 4th quarter valued at about $29,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup upped their price objective on shares of Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Piper Sandler increased their price target on Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Robert W. Baird increased their price target on Autodesk from $335.00 to $345.00 and gave the company an "outperform" rating in a report on Thursday. KeyCorp reissued an "overweight" rating and issued a $350.00 price target (up previously from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Finally, Stifel Nicolaus increased their price target on Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $343.04.

Autodesk Stock Up 1.5%

Shares of Autodesk stock traded up $4.17 during trading on Friday, reaching $290.23. The company had a trading volume of 1,116,901 shares, compared to its average volume of 1,298,137. The company has a market cap of $62.11 billion, a price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 2.75 and a beta of 1.46. The firm's fifty day moving average is $298.19 and its 200-day moving average is $285.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $326.62.

Insider Activity

In other news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 9,391 shares of company stock valued at $2,909,885. Corporate insiders own 0.15% of the company's stock.

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.