Autodesk, Inc. (NASDAQ:ADSK) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,270 shares of the software company's stock after purchasing an additional 1,411 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Autodesk were worth $6,616,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ADSK. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 valued at $849,858,000 after acquiring an additional 2,307,960 shares during the period. Norges Bank purchased a new position in shares of Autodesk during the fourth quarter worth approximately $632,566,000. Farallon Capital Management LLC purchased a new position in shares of Autodesk during the fourth quarter worth approximately $544,381,000. GAMMA Investing LLC grew its position in shares of Autodesk by 27,505.2% during the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after acquiring an additional 1,465,204 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock worth $652,127,000 after acquiring an additional 670,699 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company restated an "overweight" rating and set a $360.00 target price (up from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Oppenheimer restated an "outperform" rating and set a $350.00 target price (up from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Rosenblatt Securities reaffirmed a "buy" rating and set a $340.00 price target on shares of Autodesk in a report on Tuesday, May 20th. Mizuho decreased their price target on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, DA Davidson set a $305.00 price target on Autodesk and gave the stock a "neutral" rating in a report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.45.

Insider Buying and Selling

In related news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction dated Thursday, July 3rd. The stock was 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 in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 9,391 shares of company stock worth $2,909,885. Company insiders own 0.15% of the company's stock.

Autodesk Price Performance

Shares of ADSK stock traded up $5.42 during mid-day trading on Friday, reaching $315.76. The stock had a trading volume of 836,362 shares, compared to its average volume of 1,483,374. Autodesk, Inc. has a 12-month low of $223.03 and a 12-month high of $326.62. The company has a market cap of $67.57 billion, a P/E ratio of 67.61, a price-to-earnings-growth ratio of 3.05 and a beta of 1.44. The business has a 50-day simple moving average of $295.40 and a 200 day simple moving average of $285.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

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.