Meeder Advisory Services Inc. Grows Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Meeder Advisory Services Inc. grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,062 shares of the software company’s stock after purchasing an additional 394 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Autodesk were worth $1,496,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ADSK. Norges Bank acquired a new stake in Autodesk in the 4th quarter worth about $632,566,000. Franklin Resources Inc. lifted its holdings in shares of Autodesk by 45.1% during the 4th quarter. Franklin Resources Inc. now owns 2,102,836 shares of the software company’s stock worth $621,535,000 after acquiring an additional 653,868 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Autodesk in the fourth quarter worth approximately $154,408,000. Raymond James Financial Inc. purchased a new stake in Autodesk in the fourth quarter valued at approximately $116,828,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Autodesk by 25.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,508,746 shares of the software company’s stock worth $445,940,000 after purchasing an additional 304,287 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Activity at Autodesk

In other news, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price 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 approximately $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ADSK. Robert W. Baird decreased their price target on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $325.00 target price on shares of Autodesk in a report on Tuesday, February 25th. Scotiabank dropped their price target on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Morgan Stanley lifted their price objective on Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Barclays increased their target price on shares of Autodesk from $355.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average price target of $336.29.

Autodesk Stock Performance

Autodesk stock opened at $267.93 on Thursday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $57.07 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The stock has a 50 day moving average of $282.10 and a 200-day moving average of $288.42.

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.