Twin Capital Management Inc. Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Twin Capital Management Inc. acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,483 shares of the software company's stock, valued at approximately $1,916,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADSK. Invesco Ltd. grew its position in Autodesk by 8.7% in the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company's stock worth $704,419,000 after acquiring an additional 191,666 shares during the period. Polymer Capital Management US LLC purchased a new position in shares of Autodesk during the 4th quarter worth $235,000. Cerity Partners LLC grew its holdings in shares of Autodesk by 1.9% during the 4th quarter. Cerity Partners LLC now owns 111,115 shares of the software company's stock worth $32,601,000 after purchasing an additional 2,125 shares during the period. 2Xideas AG raised its holdings in Autodesk by 34.2% in the 4th quarter. 2Xideas AG now owns 72,348 shares of the software company's stock valued at $21,384,000 after buying an additional 18,452 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Autodesk by 2.4% in the 4th quarter. Federated Hermes Inc. now owns 25,821 shares of the software company's stock valued at $7,632,000 after buying an additional 597 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction that occurred 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 directly owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the company'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 directly owns 3,003 shares of the company's stock, valued at $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. 0.14% of the stock is currently owned by corporate insiders.

Remove Ads

Autodesk Stock Up 0.6 %

Shares of NASDAQ:ADSK traded up $1.53 during trading hours on Friday, reaching $258.45. The stock had a trading volume of 1,274,634 shares, compared to its average volume of 1,696,441. The stock has a market capitalization 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. The firm's 50 day moving average is $272.44 and its 200-day moving average is $287.38. 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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Robert W. Baird dropped their price target on shares of Autodesk from $345.00 to $336.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Scotiabank dropped their target price on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. UBS Group boosted their target price on Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and set a $325.00 price target on shares of Autodesk in a research report on Tuesday, February 25th. Finally, Barclays cut their price objective on Autodesk from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $327.82.

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.