Franklin Resources Inc. Purchases 653,868 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Franklin Resources Inc. lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 45.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,102,836 shares of the software company’s stock after acquiring an additional 653,868 shares during the quarter. Franklin Resources Inc. owned approximately 0.98% of Autodesk worth $621,535,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ADSK. Starboard Value LP acquired a new stake in Autodesk during the 3rd quarter worth $510,189,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Autodesk by 196.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after purchasing an additional 5,365 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after purchasing an additional 26,768 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Autodesk during the fourth quarter worth $13,906,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Autodesk by 25.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company’s stock valued at $88,711,000 after purchasing an additional 60,963 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the topic of several analyst reports. KeyCorp increased their target price on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research note on Tuesday, February 25th. Macquarie reissued an “outperform” rating and set a $360.00 price target on shares of Autodesk in a research report on Friday, February 28th. Finally, Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $336.29.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the sale, the chief accounting officer now owns 3,003 shares of the company’s stock, valued at approximately $802,671.87. The trade was a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now directly 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 corporate insiders.

Autodesk Trading Up 0.1 %

NASDAQ:ADSK opened at $261.80 on Tuesday. The company has a market cap of $55.76 billion, a P/E ratio of 51.94, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The business has a 50 day moving average price of $283.42 and a two-hundred day moving average price of $288.56. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

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.