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

Allstate Corp acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 6,342 shares of the software company’s stock, valued at approximately $1,875,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADSK. DnB Asset Management AS raised its stake in Autodesk by 4.9% during the fourth quarter. DnB Asset Management AS now owns 38,921 shares of the software company’s stock worth $11,504,000 after purchasing an additional 1,830 shares during the period. Level Four Advisory Services LLC acquired a new stake in shares of Autodesk during the 4th quarter worth $240,000. denkapparat Operations GmbH purchased a new position in shares of Autodesk in the 4th quarter worth $303,000. New Age Alpha Advisors LLC acquired a new position in Autodesk in the fourth quarter valued at $69,000. Finally, Norges Bank acquired a new stake in Autodesk during the fourth quarter worth about $632,566,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group raised 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. Macquarie reiterated an “outperform” rating and set a $360.00 target price on shares of Autodesk in a research note on Friday, February 28th. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Barclays raised their price target on shares of Autodesk from $355.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, DA Davidson boosted their price objective on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $336.29.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value 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 represents a 44.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by company insiders.

Autodesk Price Performance

NASDAQ ADSK opened at $261.63 on Friday. 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 has a market capitalization of $55.73 billion, a P/E ratio of 51.91, a P/E/G ratio of 2.94 and a beta of 1.51. The business’s fifty day moving average is $284.01 and its two-hundred day moving average is $288.34. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

Autodesk 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.