Pacific Heights Asset Management LLC Raises Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Pacific Heights Asset Management LLC grew its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,000 shares of the software company's stock after acquiring an additional 1,000 shares during the quarter. Autodesk accounts for approximately 1.0% of Pacific Heights Asset Management LLC's holdings, making the stock its 27th largest holding. Pacific Heights Asset Management LLC's holdings in Autodesk were worth $15,446,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management boosted its holdings in Autodesk by 2.5% in the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after acquiring an additional 50 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Autodesk in the first quarter worth about $324,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Autodesk by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after acquiring an additional 229 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Autodesk by 27.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after acquiring an additional 9,222 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Autodesk by 5.4% in the first quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $360.00 target price (up previously from $345.00) on shares of Autodesk in a report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $370.00 target price (up previously from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Citigroup lifted their target price on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $345.00 target price (up previously from $313.03) on shares of Autodesk in a report on Friday, May 23rd. Finally, Bank of America lifted their target price on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $340.45.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 19,440 shares in the company, valued at $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 9,391 shares of company stock valued at $2,909,885 in the last three months. 0.15% of the stock is owned by insiders.

Autodesk Price Performance

Shares of Autodesk stock traded up $5.42 on Friday, reaching $315.76. The company's stock had a trading volume of 836,362 shares, compared to its average volume of 1,482,820. The company has a market capitalization of $67.57 billion, a P/E ratio of 67.61, a PEG ratio of 3.05 and a beta of 1.44. Autodesk, Inc. has a 52-week low of $223.03 and a 52-week high of $326.62. The stock has a 50-day moving average price of $295.40 and a 200-day moving average price of $285.67. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

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.