Autodesk, Inc. $ADSK Shares Purchased by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd increased its stake in Autodesk, Inc. by 3.7%, acquiring an additional 191,448 shares, making Autodesk its 4th largest position and valued at approximately $1.65 billion.
• Several analysts have raised their price targets for Autodesk, with Wells Fargo increasing theirs from $360 to $375, while maintaining an "overweight" rating on the stock.
• Insider selling activity includes significant transactions by executives, with over $12 million worth of shares sold in the last quarter, indicating potential shifts in internal confidence about the company’s performance.

Ninety One UK Ltd boosted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,338,125 shares of the software company's stock after buying an additional 191,448 shares during the period. Autodesk makes up about 3.9% of Ninety One UK Ltd's holdings, making the stock its 4th biggest position. Ninety One UK Ltd owned approximately 2.49% of Autodesk worth $1,652,523,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ADSK. Vanguard Group Inc. boosted its holdings in shares of Autodesk by 1.9% in 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 acquiring an additional 397,458 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Autodesk by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after purchasing an additional 400,514 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Autodesk by 44.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock valued at $868,736,000 after purchasing an additional 1,016,187 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Autodesk by 4.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after purchasing an additional 124,948 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Autodesk by 17.7% during the 1st quarter. Deutsche Bank AG now owns 1,690,675 shares of the software company's stock worth $442,619,000 after purchasing an additional 254,189 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company raised 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. Piper Sandler increased their price objective on Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Robert W. Baird raised their target price on Autodesk from $345.00 to $363.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Wall Street Zen cut shares of Autodesk from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, Rosenblatt Securities increased their price target on shares of Autodesk from $345.00 to $355.00 and gave the company a "buy" rating in a report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

Autodesk Stock Down 1.4%

Autodesk stock opened at $317.67 on Wednesday. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09. The firm has a market capitalization of $67.66 billion, a price-to-earnings ratio of 65.77, a price-to-earnings-growth ratio of 2.85 and a beta of 1.49. The stock's fifty day moving average is $306.36 and its two-hundred day moving average is $291.70. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 6,129 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the sale, the executive vice president directly owned 13,311 shares in the company, valued at $4,300,251.66. This represents a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven M. Blum sold 22,420 shares of Autodesk stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the transaction, the executive vice president owned 13,099 shares of the company's stock, valued at $4,240,801.25. This represents a 63.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,720 shares of company stock valued at $12,159,241 in the last quarter. Insiders own 0.15% of the company's stock.

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.

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