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

Franklin Resources Inc. boosted its position in Autodesk, Inc. (NASDAQ:ADSK) by 45.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,102,836 shares of the software company’s stock after purchasing an additional 653,868 shares during the period. Franklin Resources Inc.’s holdings in Autodesk were worth $621,535,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of Autodesk in the fourth quarter valued at $25,000. Tradewinds Capital Management LLC grew its stake in Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after buying an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Autodesk in the 4th quarter valued at about $30,000. Addison Advisors LLC raised its holdings in Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after acquiring an additional 74 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Autodesk during the fourth quarter worth approximately $37,000. Institutional investors own 90.24% of the company’s stock.

Insider Activity at Autodesk

In related news, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average price of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the firm’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 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. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ADSK has been the topic of a number of recent research reports. DA Davidson increased their target price on Autodesk from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research report on Tuesday, February 25th. Stifel Nicolaus reduced their target price on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Barclays upped their price target on shares of Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average target price of $336.29.

Autodesk Trading Up 0.1 %

Shares of ADSK opened at $261.80 on Tuesday. 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 52-week low of $195.32 and a 52-week high of $326.62. The firm has a market cap of $55.76 billion, a price-to-earnings ratio of 51.94, a PEG ratio of 2.94 and a beta of 1.51. The business’s fifty day moving average is $283.42 and its 200-day moving average is $288.56.

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.