Autodesk, Inc. $ADSK Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH reduced its stake in Autodesk by 15.9%, owning 70,351 shares after selling 13,308 shares during Q1, valuing their holdings at approximately $18.7 million.
• Various hedge funds have significantly altered their positions in Autodesk, with Farallon Capital Management LLC acquiring a new stake worth $544 million and GAMMA Investing LLC increasing its position by 27,505.2%.
• Analyst ratings for Autodesk show overall optimism, with several firms increasing their price targets, including Bank of America raising theirs from $290 to $330 and Stifel Nicolaus from $310 to $350.

Erste Asset Management GmbH lessened its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,351 shares of the software company's stock after selling 13,308 shares during the quarter. Erste Asset Management GmbH's holdings in Autodesk were worth $18,722,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Farallon Capital Management LLC acquired a new stake in Autodesk during the fourth quarter worth $544,381,000. GAMMA Investing LLC increased its position in shares of Autodesk by 27,505.2% during the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after purchasing an additional 1,465,204 shares during the last quarter. Nuveen LLC purchased a new stake in Autodesk in the 1st quarter valued at about $278,383,000. Janus Henderson Group PLC boosted its stake in Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock worth $652,127,000 after buying an additional 670,699 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock valued at $902,597,000 after acquiring an additional 667,763 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the transaction, the executive vice president owned 19,440 shares of the company's stock, valued at $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 9,391 shares of company stock worth $2,909,885 in the last three months. Insiders own 0.15% of the company's stock.

Autodesk Stock Down 0.1%

Shares of Autodesk stock opened at $289.24 on Wednesday. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $326.62. The company has a 50 day moving average of $298.64 and a 200 day moving average of $285.50. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $61.90 billion, a P/E ratio of 61.94, a P/E/G ratio of 2.79 and a beta of 1.46.

Analyst Ratings Changes

Several analysts recently weighed in on ADSK shares. Bank of America lifted their target price on shares of Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Oppenheimer reissued an "outperform" rating and set a $350.00 target price (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Stifel Nicolaus boosted their price target on shares of Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Rosenblatt Securities reissued a "buy" rating and issued a $340.00 price objective on shares of Autodesk in a research note on Tuesday, May 20th. Finally, Robert W. Baird upped their target price on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $342.61.

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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