Waycross Partners LLC Invests $2.62 Million in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Waycross Partners LLC invested $2.62 million in Autodesk, acquiring 10,000 shares during the first quarter, reflecting strong interest from institutional investors.
• Analysts have generally positive outlooks on Autodesk, with several raising their price targets, including Bank of America increasing it to $330 and Oppenheimer to $350.
• Autodesk's stock has increased by 2.0% recently, with a current market cap of $65.31 billion, and has a 52-week price range of $232.36 to $326.62.

Waycross Partners LLC purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,000 shares of the software company's stock, valued at approximately $2,618,000.

Other large investors also recently bought and sold shares of the company. Oregon Pacific Wealth Management LLC raised its holdings in Autodesk by 4.0% in the 1st quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock valued at $262,000 after buying an additional 38 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in Autodesk by 30.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock valued at $46,000 after acquiring an additional 41 shares during the period. Johnson Financial Group Inc. grew its position in Autodesk by 30.2% in the 4th 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. Sky Investment Group LLC increased its stake in Autodesk by 0.5% during the first quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock worth $2,183,000 after purchasing an additional 42 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its position in shares of Autodesk by 3.9% during the first quarter. Cullen Frost Bankers Inc. now owns 1,123 shares of the software company's stock worth $294,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Up 2.0%

Shares of NASDAQ ADSK opened at $305.18 on Thursday. The business has a 50-day moving average price of $300.42 and a 200 day moving average price of $286.55. The stock has a market cap of $65.31 billion, a PE ratio of 65.35, a price-to-earnings-growth ratio of 2.88 and a beta of 1.46. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 52-week low of $232.36 and a 52-week high of $326.62.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ADSK shares. Bank of America lifted their price objective on shares of Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $350.00 price objective (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Rosenblatt Securities reiterated a "buy" rating and issued a $340.00 target price on shares of Autodesk in a report on Tuesday, May 20th. Barclays boosted their price objective on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, DA Davidson raised shares of Autodesk to a "strong-buy" rating in a research report on Tuesday, July 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

Insiders Place Their Bets

In other news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the transaction, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 9,391 shares of company stock valued at $2,909,885 in the last three months. 0.15% of the stock is currently owned by insiders.

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.

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