Zurcher Kantonalbank Zurich Cantonalbank Purchases 17,045 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Zurcher Kantonalbank increased its stake in Autodesk by 7.9%, owning 233,286 shares valued at approximately $61.07 million by the end of the first quarter.
• Analyst ratings for Autodesk show a mix of perspectives, with recent target prices ranging from $320 to $370, reflecting a general consensus of a "Moderate Buy".
• Insider transactions included the sale of 3,251 shares by Autodesk’s EVP, indicating a 14.33% decrease in their ownership position.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 233,286 shares of the software company's stock after buying an additional 17,045 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of Autodesk worth $61,074,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in ADSK. Massachusetts Financial Services Co. MA boosted its position in Autodesk by 406.8% during 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 purchasing an additional 2,307,960 shares during the period. Norges Bank acquired a new position in shares of Autodesk during the fourth quarter worth approximately $632,566,000. Farallon Capital Management LLC acquired a new position in shares of Autodesk during the fourth quarter worth approximately $544,381,000. GAMMA Investing LLC grew its position in Autodesk by 27,505.2% during the first quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after buying an additional 1,465,204 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Autodesk by 43.7% in the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock worth $652,127,000 after acquiring an additional 670,699 shares during the period. Institutional investors own 90.24% of the company's stock.

Insider Buying and Selling

In related news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the sale, the executive vice president directly owned 19,440 shares of the company's stock, 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 hyperlink. Over the last quarter, insiders have sold 9,391 shares of company stock valued at $2,909,885. Insiders own 0.15% of the company's stock.

Autodesk Trading Up 0.9%

Shares of Autodesk stock traded up $2.72 during trading hours on Wednesday, hitting $309.33. The company's stock had a trading volume of 234,643 shares, compared to its average volume of 1,607,765. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $66.20 billion, a PE ratio of 66.18, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44. The stock has a 50 day moving average of $299.68 and a 200 day moving average of $285.97. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADSK. Citigroup raised their price objective on shares of Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Oppenheimer reissued an "outperform" rating and issued a $350.00 target price (up from $300.00) on shares of Autodesk in a report on Friday, May 23rd. KeyCorp reaffirmed an "overweight" rating and issued a $350.00 price target (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Piper Sandler increased their price objective on Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, DA Davidson raised shares of Autodesk to a "strong-buy" rating in a report on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $342.61.

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.