Autodesk, Inc. (NASDAQ:ADSK) Position Boosted by Royal Bank of Canada

Royal Bank of Canada boosted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 30.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 776,432 shares of the software company's stock after acquiring an additional 181,835 shares during the quarter. Royal Bank of Canada owned 0.36% of Autodesk worth $229,491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of Autodesk in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC lifted its stake in shares of Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Autodesk during the fourth quarter worth about $30,000. Addison Advisors LLC boosted its position in shares of Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after buying an additional 74 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded down $2.91 on Wednesday, reaching $292.93. 1,831,081 shares of the company's stock were exchanged, compared to its average volume of 1,628,039. The business's 50-day moving average is $269.48 and its two-hundred day moving average is $286.57. 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 fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm has a market capitalization of $62.67 billion, a price-to-earnings ratio of 58.12, a PEG ratio of 2.94 and a beta of 1.47.

Insider Activity at Autodesk

In related news, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. The trade was a 44.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at $534,200. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

ADSK has been the topic of several recent research reports. Mizuho reduced their price target on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. KeyCorp reduced their target price on shares of Autodesk from $335.00 to $323.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company lowered their price target on shares of Autodesk from $350.00 to $345.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Scotiabank cut their price objective on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $323.59.

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.