Quantbot Technologies LP Makes New $14.61 Million Investment in Autodesk, Inc. $ADSK

Key Points

• Quantbot Technologies LP invested approximately $14.61 million in Autodesk, acquiring 55,813 shares in the first quarter, making Autodesk its 22nd largest holding.
• Institutional investors currently own 90.24% of Autodesk's stock, with multiple funds increasing their stakes in the company during the first quarter.
• Several brokerages have raised their price targets for Autodesk, with Stifel Nicolaus setting a new target of $350.00 and the average price target now at $342.61.

Quantbot Technologies LP bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 55,813 shares of the software company's stock, valued at approximately $14,612,000. Autodesk accounts for about 0.5% of Quantbot Technologies LP's portfolio, making the stock its 22nd largest holding.

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

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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is owned by insiders.

Autodesk Stock Up 1.1%

Shares of ADSK opened at $286.73 on Monday. The company has a market capitalization of $61.36 billion, a P/E ratio of 61.40, a PEG ratio of 2.76 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a one year low of $232.67 and a one year high of $326.62. The business's 50 day simple moving average is $298.96 and its 200-day simple moving average is $285.62.

Analysts Set New Price Targets

Several brokerages have commented on ADSK. 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. Oppenheimer reaffirmed an "outperform" rating and issued a $350.00 price target (up from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Royal Bank Of Canada reissued 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. Citigroup boosted 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. Finally, The Goldman Sachs Group boosted their target price on Autodesk from $270.00 to $300.00 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, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $342.61.

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.

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