Autodesk, Inc. $ADSK Stock Holdings Increased by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC increased its stake in Autodesk, Inc. by 104.4%, now holding 3,080 shares valued at $806,000.
• Investment firms have been actively adjusting their positions in Autodesk, with 90.24% of the company's stock now held by institutional investors.
• Analysts have raised price targets for Autodesk, with the consensus price target now at $343.04, reflecting a "Moderate Buy" rating.

Quantitative Investment Management LLC boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 104.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,080 shares of the software company's stock after purchasing an additional 1,573 shares during the quarter. Quantitative Investment Management LLC's holdings in Autodesk were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ADSK. SouthState Corp increased its stake in Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Costello Asset Management INC acquired a new stake in Autodesk during the first quarter worth about $26,000. Close Asset Management Ltd acquired a new stake in Autodesk during the first quarter worth about $27,000. Cheviot Value Management LLC acquired a new stake in Autodesk during the first quarter worth about $27,000. Finally, Investment Management Corp VA ADV acquired a new stake in Autodesk during the fourth quarter worth about $29,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ADSK shares. Piper Sandler upped their price target on Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a research note on Friday. Macquarie increased their target price on Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday. Berenberg Bank upgraded Autodesk from a "hold" rating to a "buy" rating and increased their target price for the company from $325.00 to $365.00 in a research note on Friday, June 27th. DA Davidson reiterated a "buy" rating and issued a $375.00 target price on shares of Autodesk in a research note on Friday. Finally, Rosenblatt Securities increased their target price on Autodesk from $345.00 to $355.00 and gave the company a "buy" rating in a research note on Friday. Seventeen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of "Moderate Buy" and a consensus target price of $355.22.

Insider Activity

In related news, EVP Rebecca Pearce sold 3,251 shares of the firm'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 sale, the executive vice president owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 9,391 shares of company stock valued at $2,909,885. Company insiders own 0.15% of the company's stock.

Autodesk Stock Performance

NASDAQ:ADSK traded up $26.01 during trading hours on Friday, reaching $314.50. 4,280,737 shares of the stock were exchanged, compared to its average volume of 1,614,784. 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 firm has a 50 day simple moving average of $297.30 and a 200-day simple moving average of $284.69. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.62. The stock has a market capitalization of $67.30 billion, a P/E ratio of 67.34, a P/E/G ratio of 2.75 and a beta of 1.46.

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.