Kaufman Rossin Wealth LLC Boosts Stake in Autodesk, Inc. $ADSK

Key Points

• Kaufman Rossin Wealth LLC increased its stake in Autodesk, Inc. by 124.4%, now owning 1,800 shares valued at $557,000.
• Insider activity revealed that Director Ayanna Howard sold 3,159 shares for approximately $1.03 million, reducing her stake by 41.83%.
• Multiple analysts raised their target prices for Autodesk, with Stifel Nicolaus setting a new target of $375.00 and maintaining a "buy" rating.

Kaufman Rossin Wealth LLC boosted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 124.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,800 shares of the software company's stock after buying an additional 998 shares during the period. Kaufman Rossin Wealth LLC's holdings in Autodesk were worth $557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cheviot Value Management LLC bought a new position in Autodesk during the 1st quarter valued at approximately $27,000. SouthState Corp increased its holdings 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. Investment Management Corp VA ADV bought a new stake in shares of Autodesk in the 4th quarter worth $29,000. Livelsberger Financial Advisory bought a new stake in shares of Autodesk in the 2nd quarter worth $31,000. Finally, Costello Asset Management INC bought a new stake in shares of Autodesk in the 1st quarter worth $26,000. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of NASDAQ ADSK traded up $1.72 during mid-day trading on Monday, hitting $324.39. The stock had a trading volume of 1,695,559 shares, compared to its average volume of 1,868,720. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50 day moving average of $302.39 and a two-hundred day moving average of $288.54. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $329.09. The firm has a market cap of $69.10 billion, a PE ratio of 51.46, a PEG ratio of 2.86 and a beta of 1.49.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Steven M. Blum sold 22,420 shares of the company's 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 sale, the executive vice president directly owned 13,099 shares of the company's stock, valued at approximately $4,240,801.25. This represents a 63.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ayanna Howard sold 3,159 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the sale, the director directly owned 4,393 shares in the company, valued at approximately $1,427,725. The trade was a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,374 shares of company stock valued at $13,899,261 in the last three months. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

ADSK has been the topic of a number of research reports. Macquarie raised their price target on Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Loop Capital started coverage on Autodesk in a report on Monday, July 21st. They issued a "hold" rating and a $320.00 target price on the stock. Robert W. Baird boosted their price objective on Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. DA Davidson restated a "buy" rating and set a $375.00 target price on shares of Autodesk in a research report on Friday, August 29th. Finally, Wells Fargo & Company boosted their price target on Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and an average price target of $356.83.

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.