Norges Bank Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Norges Bank acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,140,156 shares of the software company’s stock, valued at approximately $632,566,000. Norges Bank owned 1.00% of Autodesk as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in ADSK. Golden State Wealth Management LLC purchased a new stake in Autodesk during the fourth quarter worth about $25,000. Tradewinds Capital Management LLC grew its holdings in shares of Autodesk by 100.0% in 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 in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Autodesk during the 4th quarter worth approximately $30,000. Addison Advisors LLC lifted its holdings in Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after buying an additional 74 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in Autodesk in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

In other news, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The shares were bought 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 $534,200. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADSK. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. Bank of America increased their price target on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Barclays raised their target price on shares of Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $336.29.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $261.63 on Friday. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The stock has a market capitalization of $55.73 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 2.94 and a beta of 1.51. The company has a 50-day simple moving average of $284.01 and a 200-day simple moving average of $288.13. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Autodesk Company 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.