Tairen Capital Ltd Boosts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Tairen Capital Ltd lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1,180.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,600 shares of the software company's stock after buying an additional 23,600 shares during the quarter. Autodesk accounts for 1.1% of Tairen Capital Ltd's portfolio, making the stock its 24th biggest holding. Tairen Capital Ltd's holdings in Autodesk were worth $7,567,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in Autodesk during the fourth quarter worth $25,000. Tradewinds Capital Management LLC boosted its position in Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Autodesk during the fourth quarter worth $30,000. Addison Advisors LLC boosted its position in Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after purchasing an additional 74 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Autodesk during the fourth quarter worth $39,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, the chief accounting officer now owns 3,003 shares of the company's stock, valued at approximately $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company's stock, valued at $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.15% of the company's stock.

Autodesk Stock Performance

Autodesk stock opened at $298.08 on Friday. The firm has a market capitalization of $63.77 billion, a P/E ratio of 59.14, a PEG ratio of 2.94 and a beta of 1.47. The stock has a fifty day moving average price of $267.62 and a 200 day moving average price of $286.42. Autodesk, Inc. has a 52 week low of $195.32 and a 52 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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADSK. Macquarie reiterated an "outperform" rating and set a $360.00 target price on shares of Autodesk in a research report on Friday, February 28th. Stifel Nicolaus decreased their target price on Autodesk from $350.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Robert W. Baird boosted their price target on Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a report on Friday. Bank of America boosted their price target on Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Mizuho cut 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. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $321.32.

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.

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