XTX Topco Ltd Invests $1.78 Million in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• XTX Topco Ltd has invested approximately $1.78 million in Autodesk, Inc. by acquiring 6,792 shares, as disclosed in their recent SEC filing.
• Multiple analysts have issued positive ratings for Autodesk, with several firms raising their price targets, reflecting a consensus rating of "Moderate Buy" and an average target price of $342.61.
• Insider activity has been noted, with an executive vice president selling 3,251 shares for over $1 million, indicating a 14.33% decrease in their stock ownership.

XTX Topco Ltd bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,792 shares of the software company's stock, valued at approximately $1,778,000.

Other large investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in shares of Autodesk during the fourth quarter worth about $29,000. Close Asset Management Ltd acquired a new stake in shares of Autodesk during the first quarter worth about $27,000. Abound Financial LLC acquired a new stake in shares of Autodesk during the first quarter worth about $35,000. Hurley Capital LLC acquired a new stake in shares of Autodesk during the fourth quarter worth about $44,000. Finally, CoreCap Advisors LLC boosted its stake in shares of Autodesk by 212.0% during the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock worth $46,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Trading Down 2.0%

Shares of NASDAQ ADSK traded down $6.09 during trading on Friday, hitting $297.02. 1,303,875 shares of the company traded hands, compared to its average volume of 1,731,943. Autodesk, Inc. has a 1 year low of $223.03 and a 1 year high of $326.62. The company has a 50-day moving average price of $300.18 and a 200-day moving average price of $286.32. The firm has a market capitalization of $63.56 billion, a P/E ratio of 63.60, a P/E/G ratio of 2.86 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.

Analyst Ratings Changes

ADSK has been the subject of several recent research reports. Piper Sandler increased their target price on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Royal Bank Of Canada reiterated an "outperform" rating and set a $345.00 target price (up previously from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Oppenheimer restated an "outperform" rating and issued a $350.00 price objective (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Stifel Nicolaus raised their price objective on shares of Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Bank of America raised their price objective on shares of Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and an average target price of $342.61.

Insider Activity

In related news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction 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 owned 19,440 shares in the company, valued at approximately $6,123,600. The trade was a 14.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by insiders.

About Autodesk

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.