Canopy Partners LLC Purchases New Position in Autodesk, Inc. (NASDAQ:ADSK)

Canopy Partners LLC acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 720 shares of the software company’s stock, valued at approximately $213,000.

Other large investors have also recently bought and sold shares of the company. Twin Capital Management Inc. acquired a new position in shares of Autodesk in the 4th quarter valued at $1,916,000. Invesco Ltd. lifted its holdings in Autodesk by 8.7% during the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company’s stock worth $704,419,000 after acquiring an additional 191,666 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in Autodesk in the fourth quarter valued at about $235,000. Cerity Partners LLC increased its holdings in shares of Autodesk by 1.9% in the fourth quarter. Cerity Partners LLC now owns 111,115 shares of the software company’s stock worth $32,601,000 after acquiring an additional 2,125 shares in the last quarter. Finally, 2Xideas AG raised its position in shares of Autodesk by 34.2% during the fourth quarter. 2Xideas AG now owns 72,348 shares of the software company’s stock worth $21,384,000 after purchasing an additional 18,452 shares during the period. Institutional investors own 90.24% of the company’s stock.

Insider Activity

In related news, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value 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 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 purchased 2,000 shares of the business’s stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the acquisition, the director now directly 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. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADSK shares. Bank of America increased their target price on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Scotiabank lowered their price objective on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. KeyCorp boosted their price objective on shares of Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Stifel Nicolaus lowered their target price on Autodesk from $360.00 to $350.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $336.29.

Autodesk Trading Down 4.5 %

Shares of NASDAQ:ADSK opened at $245.51 on Monday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. 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 market capitalization of $52.29 billion, a P/E ratio of 48.71, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The company has a 50-day simple moving average of $280.12 and a 200 day simple moving average of $288.37.

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.