ExodusPoint Capital Management LP Purchases New Position in Autodesk, Inc. (NASDAQ:ADSK)

ExodusPoint Capital Management LP acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 64,334 shares of the software company’s stock, valued at approximately $19,015,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADSK. Grant Private Wealth Management Inc purchased a new stake in Autodesk in the 4th quarter valued at $262,000. Motley Fool Asset Management LLC increased its stake in Autodesk by 14.0% in the fourth quarter. Motley Fool Asset Management LLC now owns 11,536 shares of the software company’s stock valued at $3,410,000 after purchasing an additional 1,417 shares during the period. World Investment Advisors raised its holdings in shares of Autodesk by 11.2% in the fourth quarter. World Investment Advisors now owns 15,835 shares of the software company’s stock valued at $4,680,000 after buying an additional 1,594 shares during the last quarter. Huntington National Bank boosted its stake in shares of Autodesk by 31.6% during the fourth quarter. Huntington National Bank now owns 7,476 shares of the software company’s stock worth $2,210,000 after buying an additional 1,796 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after buying an additional 2,307,960 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Down 4.0 %

Shares of NASDAQ:ADSK opened at $257.15 on Friday. The stock’s fifty day simple moving average is $281.22 and its 200-day simple moving average is $288.21. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a market capitalization of $54.77 billion, a P/E ratio of 51.02, a P/E/G ratio of 2.94 and a beta of 1.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of recent research reports. UBS Group increased their price objective on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Robert W. Baird lowered their price objective on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Scotiabank cut their price objective on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Bank of America raised their target price on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Barclays boosted their price target on shares of Autodesk from $355.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.29.

Insider Activity

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction on Friday, March 21st. The shares were bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $534,200. This trade represents a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction 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 sale, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at approximately $802,671.87. This represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

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.