Advisors Capital Management LLC Buys 53 Shares of Autodesk, Inc. $ADSK

Advisors Capital Management LLC boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,062 shares of the software company’s stock after buying an additional 53 shares during the quarter. Advisors Capital Management LLC’s holdings in Autodesk were worth $278,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADSK. Brighton Jones LLC grew its position in Autodesk by 14.5% during the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock valued at $343,000 after buying an additional 147 shares during the period. Gotham Asset Management LLC grew its position in Autodesk by 7.0% during the fourth quarter. Gotham Asset Management LLC now owns 3,103 shares of the software company’s stock valued at $917,000 after buying an additional 204 shares during the period. Royal Bank of Canada grew its position in Autodesk by 30.6% during the fourth quarter. Royal Bank of Canada now owns 776,432 shares of the software company’s stock valued at $229,491,000 after buying an additional 181,835 shares during the period. Steadfast Capital Management LP bought a new stake in Autodesk during the fourth quarter valued at approximately $41,941,000. Finally, Toronto Dominion Bank grew its position in Autodesk by 5.1% during the fourth quarter. Toronto Dominion Bank now owns 123,666 shares of the software company’s stock valued at $36,552,000 after buying an additional 6,040 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Insider Activity at Autodesk

In other news, EVP Steven M. Blum sold 22,420 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $323.75, for a total value of $7,258,475.00. Following the transaction, the executive vice president owned 13,099 shares of the company’s stock, valued at approximately $4,240,801.25. The trade was a 63.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the transaction, the director directly owned 4,393 shares in the company, valued at $1,427,725. This trade represents a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,860 shares of company stock worth $14,045,061 over the last ninety days. 0.15% of the stock is owned by corporate insiders.

Autodesk Price Performance

ADSK stock opened at $319.05 on Friday. Autodesk, Inc. has a one year low of $232.67 and a one year high of $329.09. The company’s fifty day moving average price is $300.38 and its 200-day moving average price is $286.67. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $67.96 billion, a PE ratio of 66.06, a price-to-earnings-growth ratio of 2.88 and a beta of 1.49.

Analyst Upgrades and Downgrades

ADSK has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of Autodesk from $370.00 to $385.00 and gave the company an “overweight” rating in a research report on Sunday, August 31st. DA Davidson reaffirmed a “buy” rating and set a $375.00 price target on shares of Autodesk in a report on Friday, August 29th. Oppenheimer lifted their price target on shares of Autodesk from $350.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Citigroup lifted their price target on shares of Autodesk from $376.00 to $393.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Finally, BMO Capital Markets lifted their price target on shares of Autodesk from $324.00 to $333.00 and gave the company a “market perform” rating in a report on Friday, May 23rd. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $356.83.

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.