Wealth Enhancement Advisory Services LLC Grows Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 98.4% 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 33,604 shares of the software company's stock after purchasing an additional 16,665 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Autodesk were worth $9,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of Autodesk in the 4th quarter worth approximately $25,000. Investment Management Corp VA ADV purchased a new position in Autodesk in the fourth quarter worth $29,000. Tradewinds Capital Management LLC grew its holdings in Autodesk by 100.0% in 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 during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Autodesk during the fourth quarter worth $30,000. Finally, Addison Advisors LLC lifted its holdings in shares of Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company's stock valued at $36,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insider Activity

In other news, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now directly owns 2,000 shares of the company's stock, valued at $534,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the sale, the chief accounting officer now owns 3,003 shares of the company's stock, valued at $802,671.87. This represents a 44.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Autodesk Price Performance

ADSK stock traded up $0.46 during mid-day trading on Wednesday, reaching $299.98. The company's stock had a trading volume of 286,241 shares, compared to its average volume of 1,590,389. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company's 50 day moving average is $275.56 and its two-hundred day moving average is $286.08. Autodesk, Inc. has a fifty-two week low of $205.86 and a fifty-two week high of $326.62. The stock has a market cap of $64.18 billion, a PE ratio of 59.52, a P/E/G ratio of 2.94 and a beta of 1.47.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $340.00 target price on shares of Autodesk in a research report on Tuesday, May 20th. Mizuho cut their price objective on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Bank of America lifted their target price on shares of Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Scotiabank dropped their target price on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Finally, UBS Group raised their price target on shares of Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $337.45.

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.