Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by Summit Financial LLC

Summit Financial LLC boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 18.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,532 shares of the software company’s stock after buying an additional 399 shares during the period. Summit Financial LLC’s holdings in Autodesk were worth $748,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Autodesk by 11.7% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 6,332 shares of the software company’s stock worth $1,872,000 after purchasing an additional 661 shares in the last quarter. FSB Premier Wealth Management Inc. increased its holdings in shares of Autodesk by 9.3% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 1,170 shares of the software company’s stock valued at $346,000 after buying an additional 100 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Autodesk by 13.4% during the 4th quarter. Wellington Management Group LLP now owns 297,917 shares of the software company’s stock valued at $88,055,000 after acquiring an additional 35,194 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Autodesk by 17.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 21,691 shares of the software company’s stock worth $6,411,000 after acquiring an additional 3,217 shares in the last quarter. Finally, RWA Wealth Partners LLC acquired a new position in shares of Autodesk in the 4th quarter worth $211,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Stephen W. Hope sold 2,452 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of 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 position. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $325.00 price target on shares of Autodesk in a research report on Tuesday, February 25th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. KeyCorp lifted their price objective on shares of Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. UBS Group raised their target price on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Mizuho raised 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. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $336.29.

Autodesk Stock Performance

ADSK stock opened at $267.93 on Thursday. The company has a 50 day moving average price of $282.10 and a 200 day moving average price of $288.42. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $57.07 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51.

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.