MIG Capital LLC Purchases Shares of 2,292 Autodesk, Inc. $ADSK

MIG Capital LLC purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,292 shares of the software company’s stock, valued at approximately $600,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management grew its holdings in Autodesk by 2.5% in the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company’s stock valued at $543,000 after buying an additional 50 shares during the period. Sowell Financial Services LLC purchased a new stake in Autodesk in the 1st quarter valued at about $324,000. Cambridge Investment Research Advisors Inc. grew its holdings in Autodesk by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company’s stock valued at $3,565,000 after buying an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Autodesk by 27.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company’s stock valued at $11,212,000 after purchasing an additional 9,222 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Autodesk by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company’s stock valued at $1,471,000 after purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADSK shares. Piper Sandler lifted their price objective on Autodesk from $357.00 to $361.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. 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 note on Friday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $370.00 price objective (up from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Barclays lifted their price objective on Autodesk from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Finally, Macquarie reaffirmed an “outperform” rating and issued a $360.00 price objective on shares of Autodesk in a research note on Friday, July 11th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Autodesk has an average rating of “Moderate Buy” and an average price target of $342.61.

Autodesk Stock Performance

Autodesk stock opened at $289.65 on Tuesday. The stock has a market cap of $61.99 billion, a P/E ratio of 62.02, a price-to-earnings-growth ratio of 2.76 and a beta of 1.46. 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 50 day moving average of $298.81 and a 200-day moving average of $285.47. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.62.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the transaction, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 9,391 shares of company stock worth $2,909,885. Corporate insiders own 0.15% 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.