MQS Management LLC Takes $385,000 Position in Autodesk, Inc. (NASDAQ:ADSK)

MQS Management LLC purchased a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,469 shares of the software company's stock, valued at approximately $385,000.

Several other large investors also recently added to or reduced their stakes in ADSK. Investment Management Corp VA ADV bought a new stake in shares of Autodesk in the 4th quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. bought a new stake in Autodesk in the fourth quarter worth $30,000. Abound Financial LLC bought a new stake in Autodesk in the first quarter worth $35,000. Hurley Capital LLC purchased a new position in Autodesk during the fourth quarter worth $44,000. Finally, CoreCap Advisors LLC increased its position in Autodesk by 212.0% during the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock valued at $46,000 after acquiring an additional 106 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Up 5.1%

Shares of NASDAQ ADSK traded up $14.16 during midday trading on Monday, reaching $294.55. 3,744,698 shares of the company's stock traded hands, compared to its average volume of 1,632,232. The company has a market cap of $63.03 billion, a price-to-earnings ratio of 63.07, a P/E/G ratio of 2.70 and a beta of 1.44. The stock's 50 day simple moving average is $298.04 and its 200-day simple moving average is $285.60. 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 one year low of $223.03 and a one year high of $326.62.

Analyst Ratings Changes

ADSK has been the subject of several analyst reports. Stifel Nicolaus raised their target price on shares of Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Macquarie reissued an "outperform" rating and issued a $360.00 price objective on shares of Autodesk in a research note on Friday. Mizuho cut their target price on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reiterated an "overweight" rating and issued a $370.00 price target (up from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Finally, KeyCorp restated an "overweight" rating and set a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $343.64.

Insiders Place Their Bets

In other news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the transaction, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 9,391 shares of company stock worth $2,909,885 in the last ninety days. 0.15% of the stock is owned by corporate insiders.

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.