Pitcairn Co. Buys 794 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Pitcairn Co. increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.3% during the fourth quarter, HoldingsChannel reports. The fund owned 15,823 shares of the software company’s stock after buying an additional 794 shares during the period. Pitcairn Co.’s holdings in Autodesk were worth $4,677,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after acquiring an additional 2,307,960 shares in the last quarter. Norges Bank bought a new stake in Autodesk during the 4th quarter worth about $632,566,000. Franklin Resources Inc. boosted its stake in shares of Autodesk by 45.1% during the 4th quarter. Franklin Resources Inc. now owns 2,102,836 shares of the software company’s stock worth $621,535,000 after buying an additional 653,868 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Autodesk in the 4th quarter valued at about $154,408,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Autodesk in the fourth quarter valued at about $116,828,000. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 2,452 shares of the 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 completion of the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $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 currently owned by insiders.

Autodesk Stock Performance

NASDAQ:ADSK opened at $267.93 on Thursday. The stock’s 50-day moving average is $282.10 and its 200-day moving average is $288.42. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $57.07 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of analyst reports. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Citigroup cut their price objective on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $280.00 to $400.00 in a research report on Tuesday, January 28th. Scotiabank dropped their price objective on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, Barclays upped their price target on shares of Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.29.

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.