Arizona State Retirement System Grows Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Arizona State Retirement System raised its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 63,049 shares of the software company’s stock after buying an additional 1,339 shares during the period. Arizona State Retirement System’s holdings in Autodesk were worth $16,506,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of Autodesk during the fourth quarter valued at about $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Autodesk during the fourth quarter valued at about $30,000. Abound Financial LLC purchased a new stake in shares of Autodesk during the first quarter valued at about $35,000. Hurley Capital LLC purchased a new stake in shares of Autodesk during the fourth quarter valued at about $44,000. Finally, CoreCap Advisors LLC lifted its position in shares of Autodesk by 212.0% during the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company’s stock valued at $46,000 after buying an additional 106 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADSK has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on shares of Autodesk from $270.00 to $300.00 and gave the company a “neutral” rating in a research report on Friday, May 23rd. Scotiabank decreased their price objective on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $345.00 price objective (up from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $350.00 price objective (up from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Robert W. Baird increased their price objective on shares of Autodesk from $303.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $343.64.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares of the company’s stock, valued at $6,123,600. This trade represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by company insiders.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $280.39 on Friday. The stock has a market capitalization of $60.00 billion, a price-to-earnings ratio of 60.04, a PEG ratio of 2.70 and a beta of 1.44. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. The firm’s 50 day simple moving average is $298.04 and its 200-day simple moving average is $285.70. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

About Autodesk

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.