Ascent Group LLC Acquires Shares of 2,082 Autodesk, Inc. $ADSK

Key Points

• Ascent Group LLC has made a new investment in Autodesk, purchasing 2,082 shares valued at approximately $545,000.
• Several large investors, including GAMMA Investing LLC and T. Rowe Price, have recently increased their stakes in Autodesk, indicating a growing interest in the stock.
• Analyst ratings for Autodesk show a favorable outlook, with an average price target of $356.83 and a majority rating of "Buy" among research analysts.

Ascent Group LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,082 shares of the software company's stock, valued at approximately $545,000.

A number of other large investors have also made changes to their positions in ADSK. SouthState Corp boosted its position in shares of Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Costello Asset Management INC purchased a new stake in Autodesk in the first quarter valued at about $26,000. Close Asset Management Ltd acquired a new stake in Autodesk in the first quarter worth about $27,000. Cheviot Value Management LLC purchased a new stake in shares of Autodesk during the first quarter worth about $27,000. Finally, Investment Management Corp VA ADV acquired a new position in shares of Autodesk during the fourth quarter valued at about $29,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Steven M. Blum sold 22,420 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the sale, the executive vice president directly owned 13,099 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the completion of the transaction, the executive vice president directly owned 80,255 shares of the company's stock, valued at $25,288,350.50. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,860 shares of company stock worth $14,045,061 over the last ninety days. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ADSK. Berenberg Bank set a $370.00 target price on shares of Autodesk in a research note on Monday, September 1st. UBS Group raised their price target on shares of Autodesk from $370.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Rosenblatt Securities boosted their price objective on shares of Autodesk from $345.00 to $355.00 and gave the company a "buy" rating in a report on Friday, August 29th. Robert W. Baird raised their target price on Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Citigroup lifted their price target on Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Seventeen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $356.83.

Autodesk Stock Performance

NASDAQ:ADSK traded down $5.47 during mid-day trading on Friday, hitting $319.05. The company's stock had a trading volume of 1,077,474 shares, compared to its average volume of 1,685,043. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $67.96 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 2.88 and a beta of 1.49. The business's fifty day moving average is $300.38 and its two-hundred day moving average is $286.67.

Autodesk Company 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.