Allstate Corp Acquires Shares of 6,342 Autodesk, Inc. (NASDAQ:ADSK)

Allstate Corp acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,342 shares of the software company’s stock, valued at approximately $1,875,000.

A number of other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. grew its position in Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares during the last quarter. Freedom Investment Management Inc. grew its holdings in shares of Autodesk by 7.6% during the third quarter. Freedom Investment Management Inc. now owns 1,779 shares of the software company’s stock worth $490,000 after buying an additional 126 shares during the last quarter. CreativeOne Wealth LLC increased its position in Autodesk by 109.6% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,708 shares of the software company’s stock valued at $471,000 after acquiring an additional 893 shares during the period. Public Sector Pension Investment Board increased its position in Autodesk by 14.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 9,388 shares of the software company’s stock valued at $2,586,000 after acquiring an additional 1,200 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in Autodesk by 7.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 25,957 shares of the software company’s stock valued at $7,145,000 after acquiring an additional 1,891 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of ADSK opened at $261.63 on Friday. The company has a 50-day moving average of $284.01 and a two-hundred day moving average of $288.34. The stock has a market cap of $55.73 billion, a P/E ratio of 51.91, a PEG ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month 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.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Robert W. Baird cut their price objective on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Scotiabank reduced their target price on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Barclays boosted their price target on shares of Autodesk from $355.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Bank of America lifted 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. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $336.29.

Insider Buying and Selling

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 3,003 shares of the company’s stock, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John T. Cahill acquired 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, for a total transaction of $534,200.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $534,200. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

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.