Fred Alger Management LLC Boosts Position in Autodesk, Inc. (NASDAQ:ADSK)

Fred Alger Management LLC raised its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7,721.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,295 shares of the software company's stock after purchasing an additional 201,683 shares during the period. Fred Alger Management LLC owned 0.10% of Autodesk worth $60,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in shares of Autodesk during the fourth quarter worth about $25,000. Tradewinds Capital Management LLC raised its holdings in Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock valued at $30,000 after buying an additional 50 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in Autodesk in the fourth quarter worth $30,000. Addison Advisors LLC grew its position in shares of Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after buying an additional 74 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Autodesk in the 4th quarter valued at $39,000. Institutional investors own 90.24% of the company's stock.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 2,452 shares of the firm'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 value of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John T. Cahill purchased 2,000 shares of the business's stock in a transaction on Friday, March 21st. The stock was purchased at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at approximately $534,200. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ADSK shares. Wells Fargo & Company reduced their price objective on Autodesk from $350.00 to $345.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. UBS Group increased their price target on shares of Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. DA Davidson reduced their price objective on shares of Autodesk from $285.00 to $265.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $321.36.

Autodesk Stock Down 0.7 %

Shares of NASDAQ ADSK traded down $2.14 during trading hours on Friday, hitting $287.48. The company had a trading volume of 906,923 shares, compared to its average volume of 1,622,153. The firm's 50 day moving average is $263.76 and its 200-day moving average is $286.12. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The stock has a market capitalization of $61.23 billion, a P/E ratio of 57.04, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

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.