Assenagon Asset Management S.A. Boosts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Assenagon Asset Management S.A. raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,942 shares of the software company’s stock after buying an additional 1,266 shares during the period. Assenagon Asset Management S.A.’s holdings in Autodesk were worth $4,697,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Investment Management Corp VA ADV purchased a new stake in shares of Autodesk during the fourth quarter worth about $29,000. Tradewinds Capital Management LLC boosted its holdings in shares of Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after purchasing an additional 50 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in shares of Autodesk during the fourth quarter worth about $30,000. Addison Advisors LLC boosted its holdings in shares of Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after purchasing an additional 74 shares during the period. Finally, Sierra Ocean LLC purchased a new stake in shares of Autodesk during the fourth quarter worth about $39,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Robert W. Baird increased their target price on shares of Autodesk from $303.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Barclays increased their price target on shares of Autodesk from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Morgan Stanley reissued an “overweight” rating and issued a $370.00 price target (up from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Piper Sandler increased their price target 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. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Autodesk has an average rating of “Moderate Buy” and an average target price of $337.45.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $292.16 on Monday. The company has a market capitalization of $62.52 billion, a price-to-earnings ratio of 57.97, a P/E/G ratio of 2.94 and a beta of 1.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50 day simple moving average of $282.27 and a two-hundred day simple moving average of $285.33. Autodesk, Inc. has a fifty-two week low of $223.03 and a fifty-two week high of $326.62.

Insider Activity at Autodesk

In other news, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction that occurred on 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 transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $534,200. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 directly owns 3,003 shares of the company’s stock, valued at $802,671.87. This trade represents a 44.95% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Autodesk 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.