Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by Summit Financial LLC

Summit Financial LLC boosted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 18.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,532 shares of the software company’s stock after acquiring an additional 399 shares during the quarter. Summit Financial LLC’s holdings in Autodesk were worth $748,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADSK. Vanguard Group Inc. boosted its stake in shares of Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock valued at $6,025,331,000 after purchasing an additional 119,034 shares during the period. State Street Corp lifted its holdings in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares in the last quarter. Principal Financial Group Inc. boosted its position in Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the last quarter. Norges Bank acquired a new stake in shares of Autodesk during the fourth quarter valued at about $632,566,000. Finally, Janus Henderson Group PLC increased its position in shares of Autodesk by 3.9% during the third quarter. Janus Henderson Group PLC now owns 1,535,538 shares of the software company’s stock worth $423,010,000 after acquiring an additional 56,945 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ADSK shares. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and increased their price target for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Barclays increased their target price on Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Bank of America lifted their price target 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. Morgan Stanley increased their price objective on shares of Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research report on Tuesday, February 25th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average price target of $336.29.

Insider Activity

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

Autodesk Trading Up 1.3 %

Shares of NASDAQ:ADSK opened at $267.93 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $282.10 and its 200 day moving average price is $288.42. The company has a market cap of $57.07 billion, a PE ratio of 53.16, a P/E/G ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

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.