Dnca Finance Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Dnca Finance bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,250 shares of the software company's stock, valued at approximately $3,916,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Autodesk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock worth $6,025,331,000 after buying an additional 119,034 shares during the period. Geode Capital Management LLC increased its position in shares of Autodesk by 1.0% during 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 acquiring an additional 45,623 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Autodesk by 406.8% in 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 purchasing an additional 2,307,960 shares during the last quarter. Invesco Ltd. grew its stake in Autodesk by 8.7% during the 4th quarter. Invesco Ltd. now owns 2,383,255 shares of the software company's stock valued at $704,419,000 after purchasing an additional 191,666 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock valued at $603,947,000 after purchasing an additional 245,816 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADSK shares. JPMorgan Chase & Co. cut their price target on Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Bank of America raised their target price on Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Stifel Nicolaus reduced their target price on shares of Autodesk from $350.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Robert W. Baird decreased their price objective on Autodesk from $345.00 to $336.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Finally, Citigroup cut their target price on Autodesk from $361.00 to $339.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $321.36.

Insider Activity

In related news, Director John T. Cahill acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average price 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 of the company's stock, valued at $534,200. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Autodesk Trading Up 2.9 %

Shares of NASDAQ ADSK traded up $7.70 during midday trading on Thursday, hitting $272.14. The stock had a trading volume of 618,435 shares, compared to its average volume of 1,641,140. The company's 50-day simple moving average is $265.57 and its 200 day simple moving average is $286.59. The firm has a market cap of $57.97 billion, a P/E ratio of 54.00, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week 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.

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.