APG Asset Management N.V. Reduces Holdings in Autodesk, Inc. $ADSK

Key Points

• APG Asset Management N.V. reduced its holdings in Autodesk, Inc. by 0.9%, selling 1,183 shares, and now owns approximately 134,254 shares valued at $32.5 million.
• Several institutional investors have significantly increased their stakes in Autodesk, with T. Rowe Price boosting their holdings by 44.1%, now owning over 3.3 million shares.
• Analysts have raised their price targets for Autodesk, with Bank of America setting a new target at $330 and Robert W. Baird at $345, reflecting positive sentiment towards the stock's performance.

APG Asset Management N.V. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 134,254 shares of the software company's stock after selling 1,183 shares during the quarter. APG Asset Management N.V. owned approximately 0.06% of Autodesk worth $32,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 397,458 shares in the last quarter. Ninety One UK Ltd raised its stake in Autodesk by 1.6% in the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after buying an additional 79,900 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Autodesk by 44.1% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Autodesk by 28.0% during 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 buying an additional 667,763 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Autodesk by 4.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after buying an additional 124,948 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Price Performance

Autodesk stock traded up $2.54 during mid-day trading on Thursday, reaching $288.49. The company had a trading volume of 3,991,210 shares, compared to its average volume of 1,599,003. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $61.74 billion, a P/E ratio of 61.78, a P/E/G ratio of 2.72 and a beta of 1.46. The stock's 50-day simple moving average is $297.44 and its 200-day simple moving average is $284.81.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the transaction, the executive vice president directly owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 9,391 shares of company stock valued at $2,909,885 over the last three months. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

ADSK has been the topic of several recent research reports. Stifel Nicolaus upped their price target on shares of Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Piper Sandler upped their price target on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Wells Fargo & Company restated an "overweight" rating and set a $360.00 price target (up previously from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Oppenheimer reiterated an "outperform" rating and issued a $350.00 price objective (up previously from $300.00) on shares of Autodesk in a report on Friday, May 23rd. Finally, Robert W. Baird increased their price objective on shares of Autodesk from $335.00 to $345.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and an average price target of $343.04.

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.