KLP Kapitalforvaltning AS Buys New Stake in Autodesk, Inc. (NASDAQ:ADSK)

KLP Kapitalforvaltning AS acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 98,012 shares of the software company's stock, valued at approximately $28,969,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in Autodesk in the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC lifted its stake in shares of Autodesk by 100.0% in the 4th 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. Addison Advisors LLC boosted its holdings in shares of Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after buying an additional 74 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Autodesk in the fourth quarter worth approximately $37,000. Finally, Sierra Ocean LLC bought a new stake in Autodesk during the fourth quarter valued at approximately $39,000. Institutional investors own 90.24% of the company's stock.

Insider Activity

In other news, Director John T. Cahill acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost 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 of the company's stock, valued at $534,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ADSK shares. Mizuho raised Autodesk from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Rosenblatt Securities reissued a "buy" rating and issued a $325.00 price objective on shares of Autodesk in a research note on Tuesday, February 25th. DA Davidson lifted their target price on shares of Autodesk from $275.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Piper Sandler upgraded Autodesk from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Finally, HSBC downgraded Autodesk from a "buy" rating to a "hold" rating and set a $290.00 price objective on the stock. in a research report on Friday, November 29th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $336.29.

Autodesk Trading Down 0.5 %

Shares of ADSK traded down $1.40 during trading hours on Thursday, reaching $269.81. 1,230,046 shares of the company traded hands, compared to its average volume of 1,591,529. 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 firm has a market cap of $57.47 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 2.94 and a beta of 1.51. The stock's fifty day moving average price is $285.01 and its 200 day moving average price is $288.21. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62.

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.