Allegiance Financial Group Advisory Services LLC Buys New Position in Autodesk, Inc. $ADSK

Key Points

• Allegiance Financial Group Advisory Services LLC has acquired a new stake in Autodesk, Inc., purchasing 1,357 shares valued at approximately $420,000 during the second quarter.
• Several large institutional investors, including Vanguard Group Inc. and T. Rowe Price, have increased their stakes in Autodesk, indicating strong interest in the company's stock.
• Wall Street analysts have set a consensus price target for Autodesk at $359.13 with the majority rating it a "Moderate Buy," reflecting positive outlooks for the company's growth.

Allegiance Financial Group Advisory Services LLC bought a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,357 shares of the software company's stock, valued at approximately $420,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock valued at $5,440,968,000 after buying an additional 397,458 shares during the period. Ninety One UK Ltd grew its position in Autodesk by 3.7% during the second quarter. Ninety One UK Ltd now owns 5,338,125 shares of the software company's stock valued at $1,652,523,000 after buying an additional 191,448 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Autodesk by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after purchasing an additional 400,514 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Autodesk by 44.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock worth $868,736,000 after purchasing an additional 1,016,187 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Autodesk by 4.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after purchasing an additional 124,948 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the completion of the transaction, the executive vice president owned 13,099 shares in the company, valued at $4,240,801.25. This trade represents a 63.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rebecca Pearce sold 6,129 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the transaction, the executive vice president owned 13,311 shares of the company's stock, valued at $4,300,251.66. This trade represents a 31.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,386 shares of company stock worth $11,433,201 over the last three months. 0.15% of the stock is owned by company insiders.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $311.41 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a fifty day moving average price of $307.96 and a 200 day moving average price of $293.70. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09. The firm has a market cap of $66.33 billion, a price-to-earnings ratio of 64.47, a P/E/G ratio of 2.78 and a beta of 1.49.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of analyst reports. Oppenheimer lifted their target price on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. HSBC set a $343.00 target price on shares of Autodesk and gave the company a "buy" rating in a research note on Wednesday, October 1st. Wells Fargo & Company lifted their target price on shares of Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Rosenblatt Securities lifted their target price on shares of Autodesk from $345.00 to $355.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Finally, Wall Street Zen cut shares of Autodesk from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $359.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.