Baader Bank Aktiengesellschaft Boosts Holdings in Autodesk, Inc. $ADSK

Key Points

• Baader Bank Aktiengesellschaft increased its stake in Autodesk, Inc. by 177.5%, now owning 3,716 shares valued at $1,150,000, highlighting significant institutional interest in the company.
• Several brokerages have raised their price targets for Autodesk, with a consensus target now at $356.83 and a rating of "Moderate Buy" from analysts.
• Insider sales have been notable, with executive Steven M. Blum selling 22,420 shares, which represents a 63.12% decrease in his position, raising concerns about insider confidence.

Baader Bank Aktiengesellschaft increased its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 177.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,716 shares of the software company's stock after buying an additional 2,377 shares during the period. Baader Bank Aktiengesellschaft's holdings in Autodesk were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Autodesk by 1.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,706 shares of the software company's stock valued at $7,958,000 after buying an additional 436 shares in the last quarter. Signal Advisors Wealth LLC acquired a new stake in shares of Autodesk in the second quarter valued at approximately $207,000. Sivia Capital Partners LLC raised its position in Autodesk by 98.1% during the second quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company's stock valued at $765,000 after purchasing an additional 1,224 shares in the last quarter. Lincoln Capital Corp acquired a new position in Autodesk during the second quarter valued at approximately $2,111,000. Finally, Pines Wealth Management LLC acquired a new position in Autodesk during the second quarter valued at approximately $206,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADSK. Bank of America boosted their price objective on shares of Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Barclays boosted their price objective on shares of Autodesk from $355.00 to $385.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Berenberg Bank set a $370.00 price objective on shares of Autodesk in a research report on Monday, September 1st. KeyCorp boosted their target price on shares of Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Finally, Morgan Stanley boosted their target price on shares of Autodesk from $370.00 to $385.00 and gave the stock an "overweight" rating in a research note on Sunday, August 31st. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $356.83.

Insider Activity at Autodesk

In related news, EVP Steven M. Blum sold 22,420 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 13,099 shares of the company's stock, valued at approximately $4,240,801.25. This trade represents a 63.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the transaction, the director directly owned 4,393 shares of the company's stock, valued at approximately $1,427,725. This trade represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,374 shares of company stock valued at $13,899,261 over the last quarter. 0.15% of the stock is currently owned by insiders.

Autodesk Stock Performance

Shares of Autodesk stock traded down $0.37 on Friday, reaching $322.67. 3,364,367 shares of the company traded hands, compared to its average volume of 1,756,348. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09. The company has a 50 day moving average of $302.39 and a 200 day moving average of $288.35. The firm has a market capitalization of $68.73 billion, a PE ratio of 66.81, a PEG ratio of 2.86 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76.

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.