Pinebridge Investments L.P. Raises Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Pinebridge Investments L.P. grew its position in Autodesk, Inc. (NASDAQ:ADSKFree Report) by 16.8% during the fourth quarter, Holdings Channel reports. The firm owned 192,415 shares of the software company’s stock after acquiring an additional 27,687 shares during the period. Pinebridge Investments L.P.’s holdings in Autodesk were worth $46,849,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of ADSK. Bfsg LLC purchased a new stake in Autodesk in the fourth quarter valued at $27,000. Rakuten Securities Inc. acquired a new position in shares of Autodesk in the 4th quarter valued at about $28,000. Private Wealth Management Group LLC purchased a new stake in shares of Autodesk in the fourth quarter worth about $31,000. First United Bank & Trust acquired a new stake in Autodesk during the fourth quarter worth about $34,000. Finally, AdvisorNet Financial Inc lifted its holdings in Autodesk by 67.1% in the fourth quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock valued at $35,000 after acquiring an additional 57 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at $898,621.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $256.66, for a total transaction of $141,163.00. Following the completion of the sale, the director now owns 33,216 shares in the company, valued at approximately $8,525,218.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,988 shares of company stock valued at $7,534,941. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ADSK shares. StockNews.com cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group upped their price objective on shares of Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Mizuho lowered their target price on shares of Autodesk from $270.00 to $230.00 and set a “neutral” rating on the stock in a research note on Tuesday. Citigroup upped their price target on Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Stifel Nicolaus dropped their price objective on Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $269.05.

Get Our Latest Stock Report on Autodesk

Autodesk Price Performance

ADSK traded down $0.41 during trading on Thursday, reaching $215.87. The company’s stock had a trading volume of 2,064,412 shares, compared to its average volume of 1,616,686. The company has a market cap of $46.51 billion, a price-to-earnings ratio of 51.28, a PEG ratio of 2.88 and a beta of 1.43. The firm has a fifty day simple moving average of $222.46 and a two-hundred day simple moving average of $236.93. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23.

About Autodesk

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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