Wedge Capital Management L L P NC Buys Shares of 212,788 Autodesk, Inc. (NASDAQ:ADSK)

Wedge Capital Management L L P NC bought a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 212,788 shares of the software company's stock, valued at approximately $55,708,000. Autodesk accounts for 1.1% of Wedge Capital Management L L P NC's holdings, making the stock its 12th biggest position. Wedge Capital Management L L P NC owned 0.10% of Autodesk as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in shares of Autodesk during the fourth quarter valued at approximately $25,000. Investment Management Corp VA ADV acquired a new stake in Autodesk during the 4th quarter valued at $29,000. Tradewinds Capital Management LLC increased its stake in Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after buying an additional 50 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in Autodesk in the 4th quarter worth $30,000. Finally, Addison Advisors LLC boosted its position in Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company's stock valued at $36,000 after buying an additional 74 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Autodesk

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

Wall Street Analyst Weigh In

Several research analysts recently commented on ADSK shares. The Goldman Sachs Group boosted their price target on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Macquarie restated an "outperform" rating and set a $360.00 price objective on shares of Autodesk in a report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company restated an "overweight" rating and issued a $360.00 price target (up previously from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Citigroup upped their price target on shares of Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and an average price target of $337.45.

Autodesk Stock Performance

Shares of Autodesk stock traded down $0.36 on Friday, reaching $297.86. 941,689 shares of the company were exchanged, compared to its average volume of 1,573,602. The firm has a market cap of $63.74 billion, a price-to-earnings ratio of 59.10, a P/E/G ratio of 2.94 and a beta of 1.45. Autodesk, Inc. has a 1-year low of $205.86 and a 1-year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company's 50-day moving average is $277.69 and its two-hundred day moving average is $285.94.

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.