Voleon Capital Management LP Invests $2.87 Million in Autodesk, Inc. $ADSK

Key Points

• Voleon Capital Management LP has invested approximately $2.87 million in Autodesk by purchasing 10,955 shares in the first quarter of the year.
• Other institutional investors have also increased their stakes in Autodesk, with a notable 90.24% of shares currently owned by institutional investors and hedge funds.
• Several analysts have issued positive ratings on Autodesk, raising target prices significantly, with a consensus rating of "Moderate Buy" and a target price of $356.83.

Voleon Capital Management LP bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,955 shares of the software company's stock, valued at approximately $2,868,000.

Other large investors have also recently made changes to their positions in the company. Spire Wealth Management boosted its position in shares of Autodesk by 2.5% in the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after purchasing an additional 50 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Autodesk in the 1st quarter valued at about $324,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Autodesk by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock valued at $3,565,000 after purchasing an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Autodesk by 27.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock valued at $11,212,000 after purchasing an additional 9,222 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Autodesk by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock valued at $1,471,000 after purchasing an additional 290 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the sale, the executive vice president owned 13,311 shares in the company, valued at $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $325.00, for a total value of $1,026,675.00. Following the sale, the director owned 4,393 shares in the company, valued at $1,427,725. This trade represents a 41.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,860 shares of company stock worth $14,045,061. 0.15% of the stock is currently owned by corporate insiders.

Autodesk Price Performance

NASDAQ ADSK traded down $5.47 during mid-day trading on Friday, hitting $319.05. The stock had a trading volume of 1,077,474 shares, compared to its average volume of 1,681,436. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $329.09. The company has a market cap of $67.96 billion, a price-to-earnings ratio of 66.06, a P/E/G ratio of 2.83 and a beta of 1.49. The company has a 50 day simple moving average of $300.38 and a 200 day simple moving average of $286.70. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their target price on Autodesk from $345.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Macquarie increased their price objective on Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Loop Capital began coverage on Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 price objective for the company. Morgan Stanley increased their price objective on Autodesk from $370.00 to $385.00 and gave the stock an "overweight" rating in a research report on Sunday, August 31st. Finally, Piper Sandler increased their price objective on Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $356.83.

Autodesk 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.