Abacus FCF Advisors LLC Boosts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Abacus FCF Advisors LLC raised its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 46.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,258 shares of the software company's stock after buying an additional 6,076 shares during the quarter. Abacus FCF Advisors LLC's holdings in Autodesk were worth $5,692,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ADSK. Golden State Wealth Management LLC acquired a new position in shares of Autodesk in the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC increased its position in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after purchasing an additional 50 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Autodesk in the 4th quarter valued at about $30,000. Addison Advisors LLC raised its position in Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock valued at $36,000 after purchasing an additional 74 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Autodesk during the 4th quarter worth $37,000. Institutional investors own 90.24% of the company's stock.

Insider Activity

In other news, Director John T. Cahill bought 2,000 shares of the stock in a transaction dated Friday, March 21st. The stock was bought 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 directly owns 2,000 shares in the company, valued at approximately $534,200. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

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Autodesk Stock Up 0.6 %

ADSK stock traded up $1.53 during mid-day trading on Friday, reaching $258.45. 1,274,634 shares of the company traded hands, compared to its average volume of 1,696,441. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm's 50 day moving average price is $272.44 and its 200 day moving average price is $287.38. The stock has a market cap of $55.05 billion, a price-to-earnings ratio of 51.28, a P/E/G 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.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Oppenheimer cut their price objective on Autodesk from $350.00 to $300.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Bank of America upped their price target 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. DA Davidson raised their target price on Autodesk from $275.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Finally, Stifel Nicolaus dropped their price target on Autodesk from $350.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $327.82.

Autodesk Company 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.