Sawgrass Asset Management LLC Has $6.44 Million Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Sawgrass Asset Management LLC lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,609 shares of the software company's stock after selling 1,028 shares during the period. Sawgrass Asset Management LLC's holdings in Autodesk were worth $6,443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADSK. Whalen Wealth Management Inc. purchased a new position in Autodesk during the 1st quarter worth approximately $427,000. Cambridge Investment Research Advisors Inc. raised its position in Autodesk by 1.7% during 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 buying an additional 229 shares during the period. Intact Investment Management Inc. acquired a new position in Autodesk during the first quarter valued at $314,000. Praxis Investment Management Inc. raised its position in Autodesk by 34.1% during the first quarter. Praxis Investment Management Inc. now owns 6,090 shares of the software company's stock valued at $1,594,000 after buying an additional 1,550 shares during the period. Finally, GAM Holding AG lifted its stake in Autodesk by 13.2% in the 1st quarter. GAM Holding AG now owns 13,220 shares of the software company's stock worth $3,461,000 after acquiring an additional 1,537 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup upped their target price on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. BMO Capital Markets increased their target price on shares of Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research report on Friday, May 23rd. UBS Group lifted their target price on shares of Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, February 28th. 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. Finally, The Goldman Sachs Group lifted their price objective on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $337.45.

Autodesk Stock Performance

Autodesk stock traded up $3.24 on Tuesday, reaching $304.19. 1,464,601 shares of the stock were exchanged, compared to its average volume of 1,491,120. The stock has a market cap of $65.10 billion, a PE ratio of 65.14, a PEG ratio of 2.90 and a beta of 1.45. The firm has a fifty day moving average price of $287.90 and a two-hundred day moving average price of $285.33. Autodesk, Inc. has a twelve month low of $223.03 and a twelve month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Activity at Autodesk

In other news, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction dated Friday, March 28th. The shares were 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 of the company's stock, valued at approximately $802,671.87. This represents a 44.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rebecca Pearce sold 2,544 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $305.00, for a total transaction of $775,920.00. Following the completion of the sale, the executive vice president now owns 25,801 shares of the company's stock, valued at approximately $7,869,305. The trade was a 8.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,539 shares of company stock worth $1,592,002 in the last 90 days. 0.15% of the stock is owned by company insiders.

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.