Sigma Planning Corp increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 259.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,203 shares of the software company’s stock after purchasing an additional 16,742 shares during the period. Sigma Planning Corp’s holdings in Autodesk were worth $3,780,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADSK. First Manhattan Co. raised its holdings in Autodesk by 221.2% in the 1st quarter. First Manhattan Co. now owns 167 shares of the software company’s stock valued at $26,000 after acquiring an additional 115 shares during the last quarter. Farmers National Bank acquired a new stake in Autodesk in the 1st quarter valued at about $32,000. Thor Advisors LLC acquired a new stake in Autodesk in the 1st quarter valued at about $38,000. Osborn Williams & Donohoe LLC acquired a new stake in Autodesk in the 1st quarter valued at about $43,000. Finally, Hanson McClain Inc. acquired a new stake in Autodesk in the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.
Shares of NASDAQ:ADSK traded up $1.40 during mid-day trading on Friday, reaching $144.32. 56,853 shares of the company were exchanged, compared to its average volume of 1,853,678. The firm has a market cap of $33.34 billion, a price-to-earnings ratio of 1,310.73, a P/E/G ratio of 2.40 and a beta of 1.79. The firm’s 50-day simple moving average is $163.10 and its 200 day simple moving average is $163.20. Autodesk, Inc. has a 1 year low of $117.72 and a 1 year high of $178.95.
A number of research firms have commented on ADSK. Griffin Securities reiterated a “buy” rating and issued a $193.00 price objective (up previously from $188.00) on shares of Autodesk in a report on Friday, May 24th. Citigroup began coverage on shares of Autodesk in a report on Monday, July 22nd. They issued a “buy” rating and a $210.00 price objective for the company. Wedbush dropped their price target on shares of Autodesk from $166.00 to $164.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Deutsche Bank cut shares of Autodesk from a “buy” rating to a “hold” rating and dropped their price target for the company from $180.00 to $165.00 in a research note on Thursday. Finally, ValuEngine cut shares of Autodesk from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $174.35.
In related news, Director Karen Blasing sold 1,300 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $164.54, for a total transaction of $213,902.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Anagnost sold 2,434 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $169.47, for a total transaction of $412,489.98. The disclosure for this sale can be found here. Insiders have sold a total of 6,773 shares of company stock valued at $1,109,297 in the last ninety days. 0.12% of the stock is currently owned by corporate insiders.
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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