Hurley Capital LLC Makes New $44,000 Investment in Autodesk, Inc. (NASDAQ:ADSK)

Hurley Capital LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 147 shares of the software company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. Vanguard Group Inc. boosted its position in shares of Autodesk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock worth $6,025,331,000 after purchasing an additional 119,034 shares in the last quarter. Geode Capital Management LLC increased its position in Autodesk by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock worth $1,391,145,000 after buying an additional 45,623 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock valued at $849,858,000 after acquiring an additional 2,307,960 shares during the period. Principal Financial Group Inc. raised its position in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the last quarter. Finally, Norges Bank bought a new position in Autodesk during the fourth quarter valued at approximately $632,566,000. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ADSK shares. DA Davidson upped their target price 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 Autodesk from a “neutral” rating to an “outperform” rating and increased their price target for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. Robert W. Baird dropped their target price on Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus lowered their price objective on Autodesk from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Macquarie reissued an “outperform” rating and issued a $360.00 price target on shares of Autodesk in a research note on Friday, February 28th. Seven 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 currently has an average rating of “Moderate Buy” and a consensus target price of $336.29.

Autodesk Stock Performance

Shares of ADSK opened at $245.51 on Friday. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month 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 firm has a fifty day simple moving average of $280.12 and a 200 day simple moving average of $288.20. The stock has a market capitalization of $52.29 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 2.94 and a beta of 1.51.

Insiders Place Their Bets

In other Autodesk news, Director John T. Cahill bought 2,000 shares of the stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 2,452 shares of the firm’s stock in a transaction dated 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 directly owns 3,003 shares in the company, valued at approximately $802,671.87. The trade was a 44.95 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

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.