Pinebridge Investments L.P. Buys 5,504 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Pinebridge Investments L.P. raised its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,952 shares of the software company's stock after buying an additional 5,504 shares during the quarter. Pinebridge Investments L.P.'s holdings in Autodesk were worth $12,104,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Mount Yale Investment Advisors LLC grew its position in shares of Autodesk by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company's stock worth $551,000 after buying an additional 35 shares during the last quarter. Y.D. More Investments Ltd grew its stake in Autodesk by 1.0% in the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company's stock worth $1,000,000 after purchasing an additional 35 shares during the period. Grove Bank & Trust raised its holdings in Autodesk by 9.2% in the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company's stock worth $130,000 after purchasing an additional 37 shares in the last quarter. Journey Strategic Wealth LLC boosted its holdings in shares of Autodesk by 4.6% during the 4th quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company's stock valued at $247,000 after buying an additional 37 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Autodesk by 11.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company's stock worth $106,000 after buying an additional 38 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ADSK has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. DA Davidson decreased their price target on shares of Autodesk from $285.00 to $265.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus decreased their price target on shares of Autodesk from $350.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Robert W. Baird cut their price objective on shares of Autodesk from $345.00 to $336.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Finally, UBS Group increased their price objective on shares of Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $321.36.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded up $0.31 during trading on Tuesday, hitting $271.78. The company's stock had a trading volume of 231,789 shares, compared to its average volume of 1,630,282. The company has a 50-day moving average of $263.89 and a 200-day moving average of $286.65. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. 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 firm has a market cap of $57.89 billion, a price-to-earnings ratio of 53.92, a P/E/G ratio of 2.94 and a beta of 1.49.

Insiders Place Their Bets

In other Autodesk 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 transaction of $655,395.08. Following the sale, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the purchase, the director now owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is owned by company 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.