Norges Bank Makes New $632.57 Million Investment in Autodesk, Inc. (NASDAQ:ADSK)

Norges Bank purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,140,156 shares of the software company’s stock, valued at approximately $632,566,000.

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

Analyst Ratings Changes

ADSK has been the subject of a number of analyst reports. Robert W. Baird cut their price target on Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a report on Friday, February 28th. UBS Group boosted their target price on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Citigroup decreased their price target on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. DA Davidson boosted their price objective on shares of Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Finally, Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $336.29.

Insiders Place Their Bets

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $534,200. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, 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 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 of the company’s stock, valued at approximately $802,671.87. This represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Autodesk Stock Down 3.0 %

Shares of NASDAQ ADSK opened at $261.63 on Friday. The firm has a market cap of $55.73 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50-day simple moving average is $284.01 and its 200-day simple moving average is $288.13.

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.