B. Metzler seel. Sohn & Co. AG Decreases Stock Position in Autodesk, Inc. $ADSK

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its stake in Autodesk, Inc. by 16.9%, now holding 30,605 shares after selling 6,237 shares in Q1, valued at $8,012,000.
• Autodesk stock opened at $285.95 with a market capitalization of $61.19 billion and a PE ratio of 61.23, showing significant trading activity recently.
• Analysts remain positive on Autodesk's outlook, with one rating it a Strong Buy, and multiple target prices exceeding $320, with an average target of $343.04.

B. Metzler seel. Sohn & Co. AG cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 16.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,605 shares of the software company's stock after selling 6,237 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Autodesk were worth $8,012,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADSK. SouthState Corp grew its stake in shares of Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after acquiring an additional 80 shares during the period. Costello Asset Management INC bought a new position in Autodesk in the 1st quarter worth approximately $26,000. Close Asset Management Ltd bought a new position in Autodesk in the 1st quarter worth approximately $27,000. Cheviot Value Management LLC bought a new position in Autodesk in the 1st quarter worth approximately $27,000. Finally, Investment Management Corp VA ADV bought a new position in Autodesk in the 4th quarter worth approximately $29,000. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Ayanna Howard sold 3,159 shares of the 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 in the company, valued at approximately $1,427,725. This represents a 41.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president owned 13,311 shares of the company's stock, valued at $4,300,251.66. This represents a 31.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,679 shares of company stock valued at $5,916,595 over the last quarter. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Rosenblatt Securities upped their price target on Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research note on Friday. DA Davidson restated a "buy" rating and issued a $375.00 price target on shares of Autodesk in a research note on Friday. Citigroup upped their price target on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Royal Bank Of Canada upped their price target on Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and an average price target of $355.43.

Autodesk Price Performance

Shares of NASDAQ ADSK traded up $26.21 during midday trading on Monday, reaching $314.70. 4,903,855 shares of the stock traded hands, compared to its average volume of 1,698,110. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.65. The stock has a market capitalization of $67.35 billion, a PE ratio of 65.16, a P/E/G ratio of 3.03 and a beta of 1.49. Autodesk, Inc. has a one year low of $232.67 and a one year high of $326.62. The company's 50 day moving average is $297.65 and its 200 day moving average is $284.58.

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.