ProShare Advisors LLC Increases Position in Autodesk, Inc. (NASDAQ:ADSK)

ProShare Advisors LLC lifted its position in Autodesk, Inc. (NASDAQ:ADSK) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 289,437 shares of the software company’s stock after purchasing an additional 45,732 shares during the period. ProShare Advisors LLC’s holdings in Autodesk were worth $85,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in Autodesk during the fourth quarter valued at $25,000. Tradewinds Capital Management LLC lifted its position in Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in Autodesk during the fourth quarter valued at $30,000. Addison Advisors LLC lifted its position in Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after purchasing an additional 74 shares during the last quarter. Finally, Sierra Ocean LLC bought a new position in Autodesk during the fourth quarter valued at $39,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Autodesk stock opened at $295.78 on Friday. The company has a market cap of $63.28 billion, a PE ratio of 58.69, a P/E/G ratio of 2.94 and a beta of 1.47. The company has a fifty day moving average price of $266.67 and a two-hundred day moving average price of $286.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. DA Davidson lowered their target price on shares of Autodesk from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Citigroup lowered their target price on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Scotiabank lowered their target price on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. KeyCorp lowered their target price on shares of Autodesk from $335.00 to $323.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Stifel Nicolaus lowered their target price on shares of Autodesk from $350.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.36.

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.