Russell Investments Group Ltd. Buys 50,479 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Russell Investments Group Ltd. has increased its holdings in Autodesk, Inc. by 16.3% during the first quarter, acquiring an additional 50,479 shares, bringing their total ownership to 359,860 shares worth approximately $94.2 million.
• Research analysts have largely positive outlooks on Autodesk, with seven analysts rating it as a hold, sixteen as buy, and one as strong buy, indicating a current average rating of "Moderate Buy" and a target price of $342.61.
• Insider trading activity has seen EVP Rebecca Pearce sell 3,251 shares for over $1 million, representing a 14.33% reduction in her position, while corporate insiders hold only 0.15% of the company's stock.

Russell Investments Group Ltd. increased its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 359,860 shares of the software company's stock after acquiring an additional 50,479 shares during the period. Russell Investments Group Ltd. owned about 0.17% of Autodesk worth $94,206,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. SouthState Corp raised its holdings in Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Costello Asset Management INC purchased a new stake in Autodesk during the 1st quarter valued at $26,000. Close Asset Management Ltd purchased a new stake in Autodesk during the 1st quarter valued at $27,000. Cheviot Value Management LLC purchased a new stake in Autodesk during the 1st quarter valued at $27,000. Finally, Investment Management Corp VA ADV purchased a new stake in Autodesk during the 4th quarter valued at $29,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADSK. Macquarie reiterated an "outperform" rating and set a $360.00 target price on shares of Autodesk in a research note on Friday, July 11th. Stifel Nicolaus boosted their target price 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. Robert W. Baird boosted their target price on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. BMO Capital Markets boosted their target price on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group boosted their target price on shares of Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $342.61.

Autodesk Price Performance

Autodesk stock traded up $2.98 during mid-day trading on Friday, hitting $286.73. The stock had a trading volume of 1,149,378 shares, compared to its average volume of 1,432,251. The firm has a market capitalization of $61.36 billion, a P/E ratio of 61.40, a P/E/G ratio of 2.73 and a beta of 1.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm's 50 day moving average is $298.96 and its 200 day moving average is $285.92. Autodesk, Inc. has a one year low of $232.67 and a one year high of $326.62.

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.