Tenere Capital LLC Purchases New Position in Autodesk, Inc. (NASDAQ:ADSK)

Tenere Capital LLC acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 37,100 shares of the software company's stock, valued at approximately $10,966,000. Autodesk comprises about 2.9% of Tenere Capital LLC's investment portfolio, making the stock its 19th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADSK. Principal Financial Group Inc. increased its position in Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock worth $603,947,000 after buying an additional 245,816 shares during the period. SOA Wealth Advisors LLC. grew its stake in shares of Autodesk by 164.0% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 227 shares of the software company's stock valued at $63,000 after purchasing an additional 141 shares during the period. Pine Valley Investments Ltd Liability Co lifted its position in shares of Autodesk by 11.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 1,882 shares of the software company's stock worth $518,000 after buying an additional 188 shares during the period. World Investment Advisors LLC acquired a new stake in Autodesk in the 3rd quarter valued at $3,923,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Autodesk in the third quarter valued at $4,751,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Up 0.3 %

Shares of NASDAQ ADSK traded up $0.69 during mid-day trading on Monday, hitting $270.62. The company had a trading volume of 445,061 shares, compared to its average volume of 1,633,031. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a 50-day simple moving average of $264.44 and a two-hundred day simple moving average of $286.72. The company has a market capitalization of $57.64 billion, a PE ratio of 53.61, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62.

Insider Transactions at Autodesk

In other news, Director John T. Cahill bought 2,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company's stock, valued at $534,200. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Analyst Ratings Changes

ADSK has been the topic of several research analyst reports. Scotiabank decreased their price objective on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. DA Davidson decreased their price objective on Autodesk from $285.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Piper Sandler raised Autodesk from a "neutral" rating to an "overweight" rating and upped their price target for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Robert W. Baird reduced their price target on Autodesk from $345.00 to $336.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Finally, Oppenheimer reissued an "outperform" rating on shares of Autodesk in a research note on Thursday. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $321.36.

Autodesk Company 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.