Massachusetts Financial Services Co. MA Buys 2,307,960 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Massachusetts Financial Services Co. MA grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 406.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,875,320 shares of the software company’s stock after buying an additional 2,307,960 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Autodesk were worth $849,858,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADSK. Meeder Advisory Services Inc. boosted its holdings in shares of Autodesk by 8.4% during the 4th quarter. Meeder Advisory Services Inc. now owns 5,062 shares of the software company’s stock valued at $1,496,000 after acquiring an additional 394 shares in the last quarter. Groupama Asset Managment boosted its stake in shares of Autodesk by 39.8% during the fourth quarter. Groupama Asset Managment now owns 12,325 shares of the software company’s stock valued at $3,667,000 after purchasing an additional 3,510 shares in the last quarter. OV Management LLC boosted its stake in shares of Autodesk by 6.0% during the fourth quarter. OV Management LLC now owns 7,020 shares of the software company’s stock valued at $2,075,000 after purchasing an additional 395 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Autodesk by 1.0% in 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 buying an additional 45,623 shares during the period. Finally, HighPoint Advisor Group LLC raised its holdings in Autodesk by 6.3% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,528 shares of the software company’s stock valued at $1,057,000 after buying an additional 209 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of Autodesk stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the purchase, 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. Corporate insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $264.61 on Wednesday. The stock has a market cap of $56.36 billion, a price-to-earnings ratio of 52.50, a PEG ratio of 2.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm’s 50-day simple moving average is $282.77 and its 200 day simple moving average is $288.57.

Analysts Set New Price Targets

ADSK has been the topic of a number of research reports. Bank of America boosted their target price on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a report on Tuesday, February 25th. UBS Group raised their target price on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. KeyCorp upped their price target on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Citigroup lowered their price objective on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $336.29.

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.