Sciencast Management LP Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Sciencast Management LP purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,710 shares of the software company's stock, valued at approximately $1,688,000.

Several other institutional investors also recently modified their holdings of ADSK. 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 worth $603,947,000 after acquiring an additional 245,816 shares during the last quarter. Empowered Funds LLC increased its position in Autodesk by 26.0% during the 3rd quarter. Empowered Funds LLC now owns 4,743 shares of the software company's stock valued at $1,307,000 after purchasing an additional 979 shares during the period. Quest Partners LLC bought a new position in Autodesk during the 3rd quarter worth approximately $760,000. Caprock Group LLC raised its holdings in Autodesk by 10.2% during the 3rd quarter. Caprock Group LLC now owns 4,266 shares of the software company's stock worth $1,175,000 after purchasing an additional 394 shares during the last quarter. Finally, Commerce Bank lifted its position in shares of Autodesk by 0.4% in the 3rd quarter. Commerce Bank now owns 16,537 shares of the software company's stock worth $4,556,000 after purchasing an additional 66 shares during the period. Institutional investors own 90.24% of the company's stock.

Analyst Upgrades and Downgrades

ADSK has been the subject of several research analyst reports. Bank of America lifted their price objective on Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Barclays lifted their target price on Autodesk from $355.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Macquarie reissued an "outperform" rating and issued a $360.00 price target on shares of Autodesk in a research note on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $325.00 price objective on shares of Autodesk in a research report on Tuesday, February 25th. Finally, HSBC downgraded shares of Autodesk from a "buy" rating to a "hold" rating and set a $290.00 target price on the stock. in a research report on Friday, November 29th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Autodesk has an average rating of "Moderate Buy" and a consensus price target of $336.29.

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Autodesk Stock Performance

Shares of NASDAQ:ADSK traded down $1.87 during midday trading on Wednesday, reaching $271.21. The company had a trading volume of 1,092,737 shares, compared to its average volume of 1,590,232. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company's 50 day moving average price is $285.41 and its 200 day moving average price is $288.33. 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 $57.77 billion, a P/E ratio of 53.81, a P/E/G ratio of 2.94 and a beta of 1.51.

Insider Buying and Selling at Autodesk

In related news, Director John T. Cahill purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $267.10 per share, with a total value of $534,200.00. Following 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 filing with the SEC, which is accessible through this hyperlink. 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.