Whalen Wealth Management Inc. Acquires New Position in Autodesk, Inc. (NASDAQ:ADSK)

Whalen Wealth Management Inc. bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,631 shares of the software company's stock, valued at approximately $427,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Autodesk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock worth $6,025,331,000 after purchasing an additional 119,034 shares during the period. Geode Capital Management LLC increased its position in Autodesk by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock worth $1,391,145,000 after purchasing an additional 45,623 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock worth $902,597,000 after acquiring an additional 667,763 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Autodesk by 406.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after buying an additional 2,307,960 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Autodesk by 20.6% in the 4th quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock valued at $727,933,000 after acquiring an additional 420,838 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 486 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $300.00, for a total transaction of $145,800.00. Following the completion of the transaction, the executive vice president now owns 28,345 shares in the company, valued at $8,503,500. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were 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 in the company, valued at $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,995 shares of company stock worth $816,082. 0.15% of the stock is owned by company insiders.

Autodesk Price Performance

ADSK opened at $297.21 on Monday. 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 firm has a market cap of $63.60 billion, a P/E ratio of 63.64, a PEG ratio of 2.86 and a beta of 1.45. The firm has a 50-day moving average of $286.32 and a 200 day moving average of $285.24. Autodesk, Inc. has a fifty-two week low of $223.03 and a fifty-two week high of $326.62.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. DA Davidson set a $305.00 price objective on shares of Autodesk and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $345.00 target price (up from $313.03) on shares of Autodesk in a report on Friday, May 23rd. Oppenheimer reiterated an "outperform" rating and set a $350.00 target price (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Piper Sandler lifted their price target on Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $337.45.

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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