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

Novem Group raised its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 39.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,747 shares of the software company's stock after buying an additional 1,061 shares during the period. Novem Group's holdings in Autodesk were worth $981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Spire Wealth Management increased its stake in Autodesk by 2.5% in the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after purchasing an additional 50 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Autodesk in the first quarter valued at $324,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Autodesk by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after buying an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Autodesk by 27.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after buying an additional 9,222 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Autodesk by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after buying an additional 290 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction dated 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 of the company's stock, valued at $6,123,600. The trade was a 14.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 9,391 shares of company stock worth $2,909,885 in the last ninety days. Corporate insiders own 0.15% of the company's stock.

Autodesk Stock Up 1.7%

Shares of NASDAQ ADSK opened at $315.76 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $67.57 billion, a PE ratio of 67.61, a P/E/G ratio of 2.99 and a beta of 1.44. The firm has a fifty day moving average of $294.48 and a 200-day moving average of $285.58. Autodesk, Inc. has a 52-week low of $223.03 and a 52-week high of $326.62.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ADSK shares. Piper Sandler lifted their target price on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Scotiabank cut their price objective on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Citigroup increased their target price on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Barclays raised their price target on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Robert W. Baird upped their price objective on Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $340.45.

Autodesk Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.