Trexquant Investment LP Takes Position in Autodesk, Inc. $ADSK

Key Points

• Trexquant Investment LP has acquired 17,402 shares of Autodesk, Inc. valued at approximately $4.56 million in its first quarter investment.
• Several hedge funds have increased their positions in Autodesk, with T. Rowe Price raising its holdings by 44.1%, indicating strong institutional interest with 90.24% of the stock owned by institutional investors.
• Wall Street analysts have largely rated Autodesk positively, with a consensus recommendation of "Moderate Buy" and average price targets ranging from $355.43 to $385.00 across various firms.

Trexquant Investment LP purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,402 shares of the software company's stock, valued at approximately $4,556,000.

Other institutional investors have also recently made changes to their positions in the company. SouthState Corp lifted its position in shares of Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after buying an additional 80 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Autodesk during the 1st quarter valued at $26,000. Close Asset Management Ltd bought a new stake in shares of Autodesk during the 1st quarter valued at $27,000. Cheviot Value Management LLC bought a new stake in shares of Autodesk during the 1st quarter valued at $27,000. Finally, Investment Management Corp VA ADV bought a new stake in shares of Autodesk during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Price Performance

NASDAQ ADSK traded up $6.44 during trading on Friday, reaching $326.37. The company's stock had a trading volume of 1,632,149 shares, compared to its average volume of 1,784,814. The stock has a market capitalization of $69.52 billion, a PE ratio of 67.57, a P/E/G ratio of 2.89 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.65. The firm has a fifty day moving average of $299.25 and a 200 day moving average of $285.36. Autodesk, Inc. has a one year low of $232.67 and a one year high of $326.85.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Berenberg Bank set a $370.00 price objective on Autodesk in a research note on Monday, September 1st. The Goldman Sachs Group boosted their price objective on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Royal Bank Of Canada boosted their price objective on Autodesk from $345.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Robert W. Baird boosted their price objective on Autodesk from $345.00 to $363.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Finally, Loop Capital started coverage on Autodesk in a research note on Monday, July 21st. They set a "hold" rating and a $320.00 price objective on the stock. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $356.83.

Insiders Place Their Bets

In other news, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the transaction, the executive vice president directly owned 80,255 shares in the company, valued at approximately $25,288,350.50. This represents a 3.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ayanna Howard sold 3,159 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $325.00, for a total value of $1,026,675.00. Following the transaction, the director owned 4,393 shares in the company, valued at $1,427,725. This trade represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,440 shares of company stock worth $6,786,586 in the last ninety days. 0.15% of the stock is currently owned by insiders.

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.