Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Trust Point Inc.

Trust Point Inc. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 42.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,104 shares of the software company’s stock after selling 831 shares during the period. Trust Point Inc.’s holdings in Autodesk were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Autodesk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock valued at $6,025,331,000 after purchasing an additional 119,034 shares in the last quarter. Geode Capital Management LLC increased its stake 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 worth $1,391,145,000 after buying an additional 45,623 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Autodesk by 28.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock valued at $902,597,000 after acquiring an additional 667,763 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 last quarter. Finally, Northern Trust Corp grew its holdings in Autodesk by 20.6% during the 4th quarter. Northern Trust Corp now owns 2,462,810 shares of the software company’s stock worth $727,933,000 after acquiring an additional 420,838 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ADSK shares. Royal Bank Of Canada restated an “outperform” rating and issued a $345.00 price objective (up from $313.03) on shares of Autodesk in a report on Friday, May 23rd. Bank of America raised their price target on Autodesk from $290.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, May 23rd. Robert W. Baird upped their price objective on Autodesk from $303.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Piper Sandler raised their target price on Autodesk from $357.00 to $361.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Finally, Citigroup upped their price target on Autodesk from $374.00 to $376.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.45.

Autodesk Price Performance

Shares of ADSK opened at $296.85 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average is $284.15 and its two-hundred day moving average is $285.46. Autodesk, Inc. has a twelve month low of $223.03 and a twelve month high of $326.62. The firm has a market capitalization of $63.53 billion, a PE ratio of 63.57, a P/E/G ratio of 2.88 and a beta of 1.45.

Insider Activity

In related news, Director John T. Cahill purchased 2,000 shares of the stock in a transaction dated Friday, March 21st. The shares were acquired at an average cost 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 $534,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. This represents a 44.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,995 shares of company stock valued at $816,082 in the last three months. 0.15% of the stock is currently owned by company insiders.

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.