Legacy Advisors LLC Increases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Legacy Advisors LLC raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,059 shares of the software company’s stock after acquiring an additional 77 shares during the period. Legacy Advisors LLC’s holdings in Autodesk were worth $277,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock valued at $343,000 after acquiring an additional 147 shares during the last quarter. Addison Advisors LLC boosted its position in shares of Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after acquiring an additional 74 shares during the last quarter. Exchange Capital Management Inc. boosted its position in shares of Autodesk by 3.4% during the 4th quarter. Exchange Capital Management Inc. now owns 2,062 shares of the software company’s stock valued at $609,000 after acquiring an additional 67 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Autodesk by 55.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 30,693 shares of the software company’s stock valued at $9,072,000 after acquiring an additional 11,005 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in shares of Autodesk by 11.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,081 shares of the software company’s stock valued at $615,000 after acquiring an additional 213 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Stephen W. Hope sold 2,452 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was 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 in the company, valued at approximately $802,671.87. This trade represents a 44.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rebecca Pearce sold 486 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $300.00, for a total value of $145,800.00. Following the transaction, the executive vice president now owns 28,345 shares in the company, valued at approximately $8,503,500. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,539 shares of company stock worth $1,592,002. Company insiders own 0.15% of the company’s stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $302.37 on Thursday. The firm has a market cap of $64.71 billion, a P/E ratio of 64.75, a P/E/G ratio of 2.93 and a beta of 1.45. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. The stock’s fifty day moving average price is $288.75 and its 200-day moving average price is $285.44.

Analysts Set New Price Targets

A number of research analysts have recently commented on ADSK shares. Scotiabank lowered their target price on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. BMO Capital Markets increased their target price on Autodesk from $324.00 to $333.00 and gave the company a “market perform” rating in a research report on Friday, May 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $345.00 target price (up from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Macquarie restated an “outperform” rating and issued a $360.00 price target on shares of Autodesk in a research report on Friday, February 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $340.00 price target on shares of Autodesk in a research report on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.45.

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.