Novem Group Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Novem Group purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,686 shares of the software company's stock, valued at approximately $794,000.

A number of other large investors have also made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in Autodesk in the fourth quarter worth approximately $25,000. Tradewinds Capital Management LLC grew its position in Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after acquiring an additional 50 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in Autodesk in the fourth quarter worth approximately $30,000. Addison Advisors LLC grew its position in Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after acquiring an additional 74 shares during the period. Finally, Sierra Ocean LLC purchased a new position in Autodesk in the fourth quarter worth approximately $39,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

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

Autodesk Stock Performance

ADSK stock traded up $0.35 during mid-day trading on Friday, reaching $295.35. 3,196,593 shares of the stock traded hands, compared to its average volume of 1,638,970. 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 52 week low of $195.32 and a 52 week high of $326.62. The business has a 50-day moving average of $271.64 and a two-hundred day moving average of $286.58. The firm has a market capitalization of $63.19 billion, a PE ratio of 58.60, a P/E/G ratio of 2.94 and a beta of 1.47.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ADSK shares. Stifel Nicolaus upped their price target on Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday. The Goldman Sachs Group upped their price target on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday. Morgan Stanley upped their price target on Autodesk from $330.00 to $370.00 and gave the stock an "overweight" rating in a research note on Friday. KeyCorp upped their price target on Autodesk from $323.00 to $350.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, JPMorgan Chase & Co. decreased their price target on Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $337.18.

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.