Adams Diversified Equity Fund Inc. Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Adams Diversified Equity Fund Inc. trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 26.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,700 shares of the software company's stock after selling 14,400 shares during the quarter. Adams Diversified Equity Fund Inc.'s holdings in Autodesk were worth $10,655,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Lecap Asset Management Ltd. raised its position in Autodesk by 1,163.7% in the 1st quarter. Lecap Asset Management Ltd. now owns 12,106 shares of the software company's stock worth $3,169,000 after purchasing an additional 11,148 shares during the last quarter. Moran Wealth Management LLC lifted its stake in shares of Autodesk by 1,375.5% during the first quarter. Moran Wealth Management LLC now owns 38,466 shares of the software company's stock valued at $10,070,000 after acquiring an additional 35,859 shares during the period. Legacy Advisors LLC boosted its holdings in Autodesk by 7.8% in the first quarter. Legacy Advisors LLC now owns 1,059 shares of the software company's stock valued at $277,000 after acquiring an additional 77 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Autodesk by 8.5% in the first quarter. Asset Management One Co. Ltd. now owns 90,788 shares of the software company's stock worth $23,768,000 after purchasing an additional 7,119 shares during the period. Finally, Crewe Advisors LLC raised its holdings in Autodesk by 73.7% during the 1st quarter. Crewe Advisors LLC now owns 535 shares of the software company's stock worth $140,000 after purchasing an additional 227 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Trading Down 0.6%

ADSK stock traded down $1.82 during mid-day trading on Wednesday, reaching $302.37. The company's stock had a trading volume of 1,226,408 shares, compared to its average volume of 1,490,066. The company has a market cap of $64.71 billion, a price-to-earnings ratio of 64.75, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. The business's 50 day moving average price is $287.90 and its 200 day moving average price is $285.33. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $340.00 price target on shares of Autodesk in a research report on Tuesday, May 20th. Robert W. Baird raised their price objective on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Oppenheimer reaffirmed an "outperform" rating and set a $350.00 price objective (up from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. JPMorgan Chase & Co. reduced their price objective on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $360.00 price objective (up from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $337.45.

Insider Buying and Selling

In related news, EVP Rebecca Pearce sold 486 shares of Autodesk stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $300.00, for a total transaction of $145,800.00. Following the sale, the executive vice president now directly owns 28,345 shares in the company, valued at approximately $8,503,500. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the sale, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at $802,671.87. This represents a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,539 shares of company stock valued at $1,592,002 over the last ninety days. 0.15% of the stock is owned by corporate 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.