Envestnet Asset Management Inc. Raises Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Envestnet Asset Management Inc. grew its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 675,889 shares of the software company’s stock after buying an additional 42,384 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Autodesk were worth $199,772,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mount Yale Investment Advisors LLC increased its holdings in Autodesk by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after acquiring an additional 35 shares in the last quarter. Y.D. More Investments Ltd grew its position in shares of Autodesk by 1.0% in the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock valued at $1,000,000 after purchasing an additional 35 shares during the period. Grove Bank & Trust increased its stake in shares of Autodesk by 9.2% during the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after purchasing an additional 37 shares in the last quarter. Journey Strategic Wealth LLC raised its position in shares of Autodesk by 4.6% during the 4th quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock worth $247,000 after purchasing an additional 37 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Autodesk by 11.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock valued at $106,000 after buying an additional 38 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Performance

Shares of Autodesk stock opened at $245.51 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $52.29 billion, a price-to-earnings ratio of 48.71, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The business has a 50-day moving average of $280.12 and a 200 day moving average of $288.37. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ADSK shares. Morgan Stanley boosted their price objective on Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. KeyCorp increased their price objective on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Bank of America raised their price objective on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. UBS Group upped their target price on shares of Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $336.29.

Insider Activity

In other news, CAO Stephen W. Hope sold 2,452 shares of the company’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 sale, the chief accounting officer now owns 3,003 shares of the company’s stock, valued at approximately $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

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.