Bessemer Group Inc. Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Bessemer Group Inc. increased its position in Autodesk, Inc. (NASDAQ:ADSK) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,777 shares of the software company’s stock after buying an additional 421 shares during the quarter. Bessemer Group Inc.’s holdings in Autodesk were worth $4,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. Vanguard Group Inc. lifted its holdings in Autodesk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock worth $6,025,331,000 after buying an additional 119,034 shares during the period. Geode Capital Management LLC raised its holdings in shares of Autodesk by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after acquiring an additional 45,623 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Autodesk by 406.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after acquiring an additional 2,307,960 shares during the period. Invesco Ltd. boosted its holdings in Autodesk by 8.7% in the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company’s stock valued at $704,419,000 after acquiring an additional 191,666 shares in the last quarter. Finally, Principal Financial Group Inc. increased 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 valued at $603,947,000 after purchasing an additional 245,816 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $325.00 target price on shares of Autodesk in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Autodesk from $300.00 to $280.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup decreased their target price on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Barclays dropped their price target on Autodesk from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Oppenheimer reduced their price target on Autodesk from $350.00 to $300.00 and set an “outperform” rating on the stock in a research note on Tuesday. Eight investment 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 stock has an average rating of “Moderate Buy” and a consensus target price of $327.82.

Insider Activity

In related news, Director John T. Cahill acquired 2,000 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $258.45 on Friday. The company has a 50 day moving average of $272.44 and a 200 day moving average of $287.28. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The firm has a market cap of $55.05 billion, a P/E ratio of 51.28, a PEG ratio of 2.94 and a beta of 1.49.

Autodesk Company 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.