Autodesk, Inc. (NASDAQ:ADSK) Stake Increased by LPL Financial LLC

LPL Financial LLC raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,851 shares of the software company’s stock after acquiring an additional 23,438 shares during the quarter. LPL Financial LLC owned approximately 0.09% of Autodesk worth $57,592,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Starboard Value LP acquired a new stake in shares of Autodesk during the 3rd quarter valued at approximately $510,189,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Autodesk during the fourth quarter valued at $154,408,000. Raymond James Financial Inc. acquired a new stake in shares of Autodesk during the fourth quarter worth $116,828,000. Franklin Resources Inc. lifted its position in shares of Autodesk by 36.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after buying an additional 387,309 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after buying an additional 288,931 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Autodesk

In related news, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $534,200. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ADSK. UBS Group raised 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. Citigroup cut their price target on Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Macquarie restated an “outperform” rating and set a $360.00 price objective on shares of Autodesk in a research note on Friday, February 28th. KeyCorp raised their target price on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. Seven equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $336.29.

Autodesk Stock Down 0.5 %

ADSK stock opened at $269.81 on Friday. The firm has a market cap of $57.47 billion, a PE ratio of 53.53, a P/E/G ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month 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 firm has a 50 day simple moving average of $284.61 and a 200 day simple moving average of $288.08.

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.