Autodesk, Inc. (NASDAQ:ADSK) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,074 shares of the software company’s stock after acquiring an additional 284 shares during the period. QRG Capital Management Inc.’s holdings in Autodesk were worth $3,946,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Union Bancaire Privee UBP SA purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $13,906,000. Paradigm Asset Management Co. LLC purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $443,000. Alberta Investment Management Corp purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $2,453,000. RWC Asset Management LLP purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $4,015,000. Finally, Olympiad Research LP purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $328,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Stephen W. Hope sold 2,452 shares of Autodesk 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 sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rebecca Pearce sold 486 shares of Autodesk stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $300.00, for a total transaction of $145,800.00. Following the sale, the executive vice president now owns 28,345 shares in the company, valued at $8,503,500. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,995 shares of company stock worth $816,082 in the last ninety days. 0.15% of the stock is owned by corporate insiders.

Autodesk Price Performance

Autodesk stock opened at $295.19 on Thursday. The firm has a market cap of $63.17 billion, a PE ratio of 63.21, a price-to-earnings-growth ratio of 2.86 and a beta of 1.45. Autodesk, Inc. has a 52-week low of $223.03 and a 52-week high of $326.62. 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 is $284.78 and its two-hundred day moving average is $285.53.

Analyst Ratings Changes

Several research firms have recently weighed in on ADSK. Rosenblatt Securities reissued a “buy” rating and issued a $340.00 price target on shares of Autodesk in a research note on Tuesday, May 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $345.00 price target (up previously from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Robert W. Baird increased their price target on shares of Autodesk from $303.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. The Goldman Sachs Group increased their price objective on shares of Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Finally, Stifel Nicolaus increased their price objective on shares of Autodesk from $310.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $337.45.

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.