Autodesk, Inc. $ADSK Shares Bought by Taikang Asset Management Hong Kong Co Ltd

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its holdings in Autodesk, Inc. by 75.5% in Q1, owning 28,183 shares valued at approximately $7.38 million, making it the 26th largest holding for the fund.
• Several hedge funds have significantly increased their positions in Autodesk, with SouthState Corp raising its holdings by 500% in the first quarter.
• Analysts have raised price targets for Autodesk, with Robert W. Baird setting a new target at $345 and Morgan Stanley at $370, indicating strong market confidence in the company.

Taikang Asset Management Hong Kong Co Ltd lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 75.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,183 shares of the software company's stock after acquiring an additional 12,128 shares during the period. Autodesk accounts for approximately 1.0% of Taikang Asset Management Hong Kong Co Ltd's holdings, making the stock its 26th biggest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in Autodesk were worth $7,378,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADSK. Brighton Jones LLC lifted its stake in Autodesk by 14.5% in the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock worth $343,000 after purchasing an additional 147 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in Autodesk by 12.1% in the fourth quarter. Integrated Wealth Concepts LLC now owns 5,723 shares of the software company's stock worth $1,691,000 after purchasing an additional 620 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Autodesk by 14.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,211 shares of the software company's stock worth $1,540,000 after purchasing an additional 645 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of Autodesk by 30.2% during the fourth quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock valued at $56,000 after acquiring an additional 42 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Autodesk by 106.3% during the fourth quarter. Quarry LP now owns 229 shares of the software company's stock valued at $68,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the transaction, the executive vice president directly owned 19,440 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Insiders have sold 9,391 shares of company stock valued at $2,909,885 over the last 90 days. 0.15% of the stock is currently owned by insiders.

Autodesk Stock Up 9.1%

NASDAQ ADSK traded up $26.21 on Friday, hitting $314.70. The stock had a trading volume of 4,872,121 shares, compared to its average volume of 1,616,232. The business's fifty day moving average price is $297.30 and its 200 day moving average price is $284.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $326.62. The stock has a market cap of $67.35 billion, a price-to-earnings ratio of 67.39, a price-to-earnings-growth ratio of 2.75 and a beta of 1.46.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. DA Davidson reaffirmed a "buy" rating and set a $375.00 price target on shares of Autodesk in a research note on Friday. Citigroup lifted their price target on shares of Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Morgan Stanley reaffirmed an "overweight" rating and set a $370.00 price target (up previously from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Royal Bank Of Canada lifted their price target on shares of Autodesk from $345.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Stifel Nicolaus lifted their price target on shares of Autodesk from $350.00 to $375.00 and gave the company a "buy" rating in a research note on Friday. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and a consensus target price of $355.22.

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.