Resona Asset Management Co. Ltd. Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Resona Asset Management Co. Ltd. purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 67,025 shares of the software company's stock, valued at approximately $19,832,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prudential PLC boosted its position in shares of Autodesk by 8.3% in the fourth quarter. Prudential PLC now owns 54,272 shares of the software company's stock worth $16,041,000 after buying an additional 4,162 shares during the period. Landscape Capital Management L.L.C. boosted its position in Autodesk by 7.7% during the 4th quarter. Landscape Capital Management L.L.C. now owns 11,765 shares of the software company's stock worth $3,477,000 after acquiring an additional 845 shares during the period. Conquis Financial LLC acquired a new stake in Autodesk during the 4th quarter worth about $473,000. Uniting Wealth Partners LLC purchased a new position in Autodesk during the 4th quarter valued at about $296,000. Finally, Pitcairn Co. increased its holdings in shares of Autodesk by 5.3% in the 4th quarter. Pitcairn Co. now owns 15,823 shares of the software company's stock valued at $4,677,000 after purchasing an additional 794 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Price Performance

NASDAQ ADSK traded down $0.91 during trading on Friday, reaching $256.01. 312,137 shares of the company traded hands, compared to its average volume of 1,690,296. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock's 50 day moving average price is $273.41 and its two-hundred day moving average price is $287.35. The company has a market cap of $54.53 billion, a price-to-earnings ratio of 50.74, a P/E/G ratio of 2.94 and a beta of 1.49.

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Analyst Ratings Changes

A number of research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Barclays boosted their price target on shares of Autodesk from $355.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a report on Wednesday. Oppenheimer lowered their target price on Autodesk from $350.00 to $300.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, Mizuho raised Autodesk from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Autodesk currently has a consensus rating of "Moderate Buy" and an average price target of $329.64.

Insiders Place Their Bets

In related news, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. The trade was a 44.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the firm's stock in a transaction on Friday, March 21st. The stock was purchased at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $534,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.14% of the company's stock.

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.