Invesco Ltd. Raises Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Invesco Ltd. lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 8.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,383,255 shares of the software company’s stock after acquiring an additional 191,666 shares during the period. Invesco Ltd.’s holdings in Autodesk were worth $704,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its position in Autodesk by 406.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after buying an additional 2,307,960 shares during the last quarter. Norges Bank purchased a new position in shares of Autodesk during the fourth quarter valued at approximately $632,566,000. Franklin Resources Inc. lifted its position in Autodesk by 45.1% during the fourth quarter. Franklin Resources Inc. now owns 2,102,836 shares of the software company’s stock valued at $621,535,000 after purchasing an additional 653,868 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Autodesk in the fourth quarter worth approximately $154,408,000. Finally, Raymond James Financial Inc. purchased a new stake in Autodesk in the fourth quarter worth approximately $116,828,000. 90.24% of the stock is owned by institutional investors.

Insider Activity at Autodesk

In related news, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Cahill bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADSK. Robert W. Baird lowered their price target on Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Scotiabank lowered their target price on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. DA Davidson boosted their price target on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Finally, Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.29.

Autodesk Price Performance

NASDAQ:ADSK opened at $243.62 on Tuesday. The stock has a market cap of $51.89 billion, a PE ratio of 48.34, a P/E/G ratio of 2.94 and a beta of 1.49. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The business’s 50-day simple moving average is $279.01 and its two-hundred day simple moving average is $288.18. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62.

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.