Redwood Park Advisors LLC Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Redwood Park Advisors LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,429 shares of the software company's stock, valued at approximately $422,000. Autodesk comprises about 0.3% of Redwood Park Advisors LLC's portfolio, making the stock its 25th biggest holding.

Several other large investors have also recently modified their holdings of the business. CenterBook Partners LP acquired a new position in shares of Autodesk in the fourth quarter worth approximately $415,000. Bessemer Group Inc. increased its position in Autodesk by 2.6% during the 4th quarter. Bessemer Group Inc. now owns 16,777 shares of the software company's stock valued at $4,959,000 after purchasing an additional 421 shares during the period. APG Asset Management US Inc. bought a new position in Autodesk during the 4th quarter worth approximately $2,000,000. Azimuth Capital Investment Management LLC lifted its position in shares of Autodesk by 103.3% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 68,501 shares of the software company's stock worth $20,247,000 after purchasing an additional 34,799 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Autodesk by 535.6% in the 4th quarter. APG Asset Management N.V. now owns 135,437 shares of the software company's stock valued at $38,659,000 after purchasing an additional 114,130 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADSK. KeyCorp boosted their target price on shares of Autodesk from $330.00 to $335.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Macquarie restated an "outperform" rating and set a $360.00 target price on shares of Autodesk in a research report on Friday, February 28th. UBS Group lifted their target price on Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and set a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. Finally, Oppenheimer lowered their price objective on shares of Autodesk from $350.00 to $300.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $324.64.

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Autodesk Stock Performance

Shares of NASDAQ:ADSK traded up $2.93 during midday trading on Tuesday, reaching $263.64. The company had a trading volume of 403,109 shares, compared to its average volume of 1,689,612. 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 $271.43 and its 200 day moving average price is $287.30. 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 $56.16 billion, a P/E ratio of 52.31, a P/E/G ratio of 2.94 and a beta of 1.49.

Insider Buying and Selling at Autodesk

In related news, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value 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 represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John T. Cahill bought 2,000 shares of the 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 purchase, the director now owns 2,000 shares of the company's stock, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. 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.