Pacer Advisors Inc. Purchases 32,636 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Pacer Advisors Inc. increased its stake in Autodesk, Inc. by 112.9% during the first quarter, acquiring an additional 32,636 shares and bringing its total to 61,550 shares valued at approximately $16.1 million.
• Several other institutional investors also raised their positions in Autodesk, contributing to a total institutional ownership of 90.24%.
• Wall Street analysts maintain a positive outlook on Autodesk, with the consensus rating reflecting a "Moderate Buy" and an average price target of $342.61.

Pacer Advisors Inc. boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 112.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,550 shares of the software company's stock after buying an additional 32,636 shares during the period. Pacer Advisors Inc.'s holdings in Autodesk were worth $16,114,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ADSK. Close Asset Management Ltd acquired a new stake in shares of Autodesk in the 1st quarter valued at approximately $27,000. Investment Management Corp VA ADV acquired a new stake in shares of Autodesk in the 4th quarter valued at approximately $29,000. Abound Financial LLC acquired a new stake in shares of Autodesk in the 1st quarter valued at approximately $35,000. AllSquare Wealth Management LLC boosted its stake in shares of Autodesk by 161.3% in the 1st quarter. AllSquare Wealth Management LLC now owns 162 shares of the software company's stock valued at $42,000 after purchasing an additional 100 shares in the last quarter. Finally, Hurley Capital LLC acquired a new stake in shares of Autodesk in the 4th quarter valued at approximately $44,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company restated an "overweight" rating and issued a $360.00 price target (up from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. Loop Capital assumed coverage on shares of Autodesk in a research note on Monday, July 21st. They issued a "hold" rating and a $320.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. reduced their price target on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $350.00 price objective (up from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $342.61.

Insider Buying and Selling at Autodesk

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 directly owned 19,440 shares of the company's stock, valued at $6,123,600. This represents a 14.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is owned by corporate insiders.

Autodesk Stock Up 0.6%

Shares of NASDAQ:ADSK traded up $1.73 during midday trading on Wednesday, reaching $308.34. The company's stock had a trading volume of 130,282 shares, compared to its average volume of 1,607,015. The firm has a 50 day moving average of $299.68 and a 200-day moving average of $285.97. The firm has a market capitalization of $65.98 billion, a P/E ratio of 66.02, a PEG ratio of 2.93 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 12-month low of $223.03 and a 12-month high of $326.62.

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.