Allstate Corp Has $2.42 Million Position in Autodesk, Inc. $ADSK

Key Points

• Allstate Corp increased its stake in Autodesk by 45.8% in Q1, bringing its holdings to $2.42 million with a total of 9,249 shares.
• Institutional investors hold 90.24% of Autodesk's stock, indicating strong institutional interest and support for the company.
• Recent analyst ratings are favorable, with a consensus target price of $343.04 and most analysts rating Autodesk as a "Buy".

Allstate Corp increased its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 45.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,249 shares of the software company's stock after acquiring an additional 2,907 shares during the period. Allstate Corp's holdings in Autodesk were worth $2,421,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. SouthState Corp increased its stake in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after buying an additional 80 shares during the period. Costello Asset Management INC bought a new position in shares of Autodesk during the 1st quarter valued at about $26,000. Close Asset Management Ltd bought a new position in shares of Autodesk during the 1st quarter valued at about $27,000. Cheviot Value Management LLC bought a new position in shares of Autodesk during the 1st quarter valued at about $27,000. Finally, Investment Management Corp VA ADV bought a new position in shares of Autodesk during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Up 2.1%

Shares of ADSK stock traded up $6.11 during trading on Thursday, hitting $292.06. 1,001,054 shares of the company were exchanged, compared to its average volume of 1,581,037. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $62.50 billion, a price-to-earnings ratio of 62.53, a P/E/G ratio of 2.72 and a beta of 1.46. The business's 50-day simple moving average is $297.44 and its 200 day simple moving average is $284.81. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.62.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADSK. KeyCorp restated an "overweight" rating and set a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a research report on Friday, May 23rd. Oppenheimer restated an "outperform" rating and set a $350.00 price objective (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Macquarie restated an "outperform" rating and set a $360.00 price objective on shares of Autodesk in a research report on Friday, July 11th. Bank of America raised their price objective on shares of Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Loop Capital began coverage on shares of Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $343.04.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the sale, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 9,391 shares of company stock worth $2,909,885 in the last ninety days. Company insiders own 0.15% 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.