Stevens Capital Management LP Increases Position in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Stevens Capital Management LP significantly increased its holdings in Autodesk, Inc. by 167.0%, now owning shares valued at $854,000 as of the end of the recent quarter.
• Institutional investors collectively possess 90.24% of Autodesk's stock, with various funds, including Close Asset Management and Abound Financial, notably increasing their positions.
• Analysts have a consensus rating of "Moderate Buy" for Autodesk, with price targets ranging from $320.00 to $365.00 set by multiple research firms.

Stevens Capital Management LP raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 167.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,263 shares of the software company's stock after purchasing an additional 2,041 shares during the period. Stevens Capital Management LP's holdings in Autodesk were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Close Asset Management Ltd bought a new position in shares of Autodesk in the 1st quarter valued at about $27,000. Investment Management Corp VA ADV purchased a new position in shares of Autodesk during the fourth quarter worth approximately $29,000. Abound Financial LLC purchased a new position in shares of Autodesk during the first quarter worth approximately $35,000. AllSquare Wealth Management LLC increased its holdings in Autodesk by 161.3% during the first quarter. AllSquare Wealth Management LLC now owns 162 shares of the software company's stock valued at $42,000 after buying an additional 100 shares during the period. Finally, Hurley Capital LLC purchased a new position in Autodesk during the fourth quarter valued at approximately $44,000. Institutional investors own 90.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Piper Sandler lifted their price objective on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. DA Davidson upgraded shares of Autodesk to a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, KeyCorp reiterated an "overweight" rating and set a $350.00 price objective (up from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $342.61.

Autodesk Price Performance

Shares of ADSK stock traded up $1.27 on Tuesday, reaching $305.74. 395,495 shares of the company were exchanged, compared to its average volume of 1,612,257. The company has a market cap of $65.43 billion, a price-to-earnings ratio of 65.49, a P/E/G ratio of 2.92 and a beta of 1.44. The business has a 50-day moving average price of $299.46 and a 200 day moving average price of $285.82. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a 1 year low of $223.03 and a 1 year high of $326.62.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the business's 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 sale, the executive vice president owned 19,440 shares of the company's stock, valued at $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 9,391 shares of company stock worth $2,909,885 over the last three months. 0.15% of the stock is owned by 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.