Sphera Management Technology Funds Ltd Takes $2.22 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Sphera Management Technology Funds Ltd purchased a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,500 shares of the software company's stock, valued at approximately $2,217,000. Autodesk comprises 1.3% of Sphera Management Technology Funds Ltd's portfolio, making the stock its 17th biggest holding.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock worth $6,025,331,000 after purchasing an additional 119,034 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Autodesk by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock worth $1,391,145,000 after purchasing an additional 45,623 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Autodesk by 406.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after purchasing an additional 2,307,960 shares in the last quarter. Northern Trust Corp boosted its holdings in Autodesk by 20.6% during the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock valued at $727,933,000 after acquiring an additional 420,838 shares during the period. Finally, Invesco Ltd. boosted its holdings in Autodesk by 8.7% during the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company's stock valued at $704,419,000 after acquiring an additional 191,666 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of Autodesk from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Stifel Nicolaus decreased their price target on shares of Autodesk from $350.00 to $310.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Robert W. Baird upped their price target on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Rosenblatt Securities restated a "buy" rating and set a $340.00 price target on shares of Autodesk in a report on Tuesday. Finally, Oppenheimer restated an "outperform" rating on shares of Autodesk in a report on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $323.59.

Autodesk Price Performance

NASDAQ:ADSK traded down $2.91 during mid-day trading on Wednesday, hitting $292.93. The company's stock had a trading volume of 1,831,081 shares, compared to its average volume of 1,628,039. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week 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. The company has a market capitalization of $62.67 billion, a price-to-earnings ratio of 58.12, a P/E/G ratio of 2.94 and a beta of 1.47. The stock has a fifty day moving average of $270.25 and a 200-day moving average of $286.61.

Insider Transactions at Autodesk

In other news, Director John T. Cahill acquired 2,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the firm'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 sale, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at approximately $802,671.87. The trade was a 44.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

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.