Insider Selling: Autodesk (NASDAQ:ADSK) EVP Sells 22,420 Shares of Stock

Key Points

• Steven Blum, EVP of Autodesk, sold 22,420 shares of stock for a total of $7.26 million, leading to a 63.12% decrease in his ownership of the company's stock.
• Autodesk's stock price is currently around $325.19, with a market capitalization of $69.27 billion and a P/E ratio of 67.33.
• Recent upgrades on Autodesk stock from multiple brokerages indicate a positive outlook, with target prices ranging from $300.00 to $393.00, and a consensus rating of "Moderate Buy."

Autodesk, Inc. (NASDAQ:ADSK - Get Free Report) EVP Steven M. Blum sold 22,420 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the sale, the executive vice president owned 13,099 shares of the company's stock, valued at $4,240,801.25. This represents a 63.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Autodesk Trading Down 1.7%

NASDAQ:ADSK traded down $5.47 on Friday, hitting $319.05. 1,077,451 shares of the stock were exchanged, compared to its average volume of 1,621,060. The stock has a market cap of $67.96 billion, a PE ratio of 66.06, a PEG ratio of 2.87 and a beta of 1.49. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average of $300.31 and a 200-day moving average of $286.42. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09.

Analysts Set New Price Targets

ADSK has been the subject of a number of recent research reports. Morgan Stanley increased their target price on Autodesk from $370.00 to $385.00 and gave the company an "overweight" rating in a research note on Sunday, August 31st. Royal Bank Of Canada increased their target price on Autodesk from $345.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Stifel Nicolaus increased their target price on Autodesk from $350.00 to $375.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Mizuho increased their target price on Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Finally, Oppenheimer increased their target price on Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and an average target price of $356.83.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SouthState Corp lifted its holdings in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after buying an additional 80 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $26,000. Close Asset Management Ltd acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $27,000. Cheviot Value Management LLC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $27,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $27,000. Institutional investors own 90.24% of the company's stock.

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.