Autodesk, Inc. $ADSK is Ninety One North America Inc.'s 5th Largest Position

Key Points

• Ninety One North America Inc. has increased its stake in Autodesk, Inc. by 32.1% during the second quarter, making it the firm's 5th largest position at approximately 4.4% of its portfolio.
• Several analysts have raised their price targets for Autodesk, with estimates reaching as high as $380.00, while the stock currently has a consensus rating of "Moderate Buy."
• Insider transactions indicate a recent sale of 37,720 shares by executives, suggesting significant activity and possible changes in confidence regarding the stock's performance.

Ninety One North America Inc. boosted its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 32.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 292,722 shares of the software company's stock after buying an additional 71,160 shares during the period. Autodesk makes up approximately 4.4% of Ninety One North America Inc.'s portfolio, making the stock its 5th biggest position. Ninety One North America Inc. owned about 0.14% of Autodesk worth $90,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OMNI 360 Wealth Inc. purchased a new position in shares of Autodesk during the 2nd quarter worth approximately $359,000. E. Ohman J or Asset Management AB lifted its stake in Autodesk by 1.8% during the second quarter. E. Ohman J or Asset Management AB now owns 127,126 shares of the software company's stock worth $39,354,000 after purchasing an additional 2,276 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Autodesk by 2.5% in the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after buying an additional 50 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of Autodesk in the 1st quarter valued at $324,000. Finally, GK Wealth Management LLC purchased a new stake in shares of Autodesk in the 2nd quarter valued at $348,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of ADSK stock opened at $317.67 on Wednesday. The stock's 50-day moving average is $306.36 and its two-hundred day moving average is $291.70. The firm has a market cap of $67.66 billion, a price-to-earnings ratio of 65.77, a PEG ratio of 2.85 and a beta of 1.49. 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 quick ratio of 0.76 and a current ratio of 0.76.

Analyst Ratings Changes

Several research firms have recently commented on ADSK. Bank of America raised their price objective on shares of Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. KeyCorp increased their target price on shares of Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Royal Bank Of Canada increased their target price on shares of Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Wells Fargo & Company upped their price objective on Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Finally, Wall Street Zen lowered Autodesk from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Autodesk has a consensus rating of "Moderate Buy" and an average price target of $356.83.

Insider Transactions at Autodesk

In other news, EVP Steven M. Blum sold 22,420 shares of Autodesk stock in a transaction on Friday, September 5th. The shares were sold at an average price of $323.75, for a total value of $7,258,475.00. Following the transaction, the executive vice president directly owned 13,099 shares of the company's stock, valued at $4,240,801.25. The trade was a 63.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the transaction, the executive vice president directly owned 80,255 shares in the company, 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 a total of 37,720 shares of company stock worth $12,159,241 in the last three months. Corporate insiders own 0.15% of the company's stock.

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.

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