Fred Alger Management LLC Raises Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Fred Alger Management LLC boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7,721.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,295 shares of the software company’s stock after buying an additional 201,683 shares during the period. Fred Alger Management LLC owned 0.10% of Autodesk worth $60,383,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ADSK. Mount Yale Investment Advisors LLC grew its holdings in shares of Autodesk by 1.9% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after buying an additional 35 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Autodesk by 1.0% during the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after purchasing an additional 35 shares during the period. Grove Bank & Trust increased its stake in Autodesk by 9.2% in the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock valued at $130,000 after buying an additional 37 shares during the period. Journey Strategic Wealth LLC boosted its holdings in shares of Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock valued at $247,000 after acquiring an additional 37 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Autodesk by 11.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock worth $106,000 after purchasing an additional 38 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were 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 of the company’s stock, valued at $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the stock in a transaction dated Friday, March 21st. The shares were bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, 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. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating on shares of Autodesk in a report on Thursday, April 24th. Robert W. Baird lowered their price target on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of Autodesk from $300.00 to $280.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Scotiabank reduced their price target 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. Finally, Morgan Stanley lowered their price target on Autodesk from $385.00 to $330.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $321.36.

Autodesk Price Performance

ADSK stock opened at $283.45 on Thursday. The stock has a market capitalization of $60.37 billion, a price-to-earnings ratio of 56.24, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The stock’s fifty day simple moving average is $263.01 and its 200-day simple moving average is $286.13.

Autodesk 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.