Autodesk, Inc. $ADSK Shares Sold by GFG Capital LLC

Key Points

• GFG Capital LLC reduced its stake in Autodesk by 11.1%, selling 954 shares, and now holds 7,676 shares valued at approximately $2.38 million.
• Several hedge funds have increased their positions in Autodesk, with notable increases including T. Rowe Price's 44.1% boost and UBS's 13.1% increase in holdings during the first quarter.
• Analysts are optimistic, with one analyst raising their rating to a "strong-buy" and others setting price targets ranging from $375.00 to $385.00, indicating potential upside for the stock.

GFG Capital LLC reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,676 shares of the software company's stock after selling 954 shares during the period. GFG Capital LLC's holdings in Autodesk were worth $2,376,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after acquiring an additional 397,458 shares in the last quarter. Ninety One UK Ltd grew its holdings in Autodesk by 3.7% during the 2nd quarter. Ninety One UK Ltd now owns 5,338,125 shares of the software company's stock worth $1,652,523,000 after acquiring an additional 191,448 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Autodesk by 13.1% in the 1st 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 valued at $904,326,000 after buying an additional 400,514 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Autodesk by 44.1% in the 1st 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 buying an additional 1,016,187 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 buying an additional 124,948 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Hsbc Global Res raised shares of Autodesk from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. DA Davidson reaffirmed a "buy" rating and issued a $375.00 price target on shares of Autodesk in a report on Friday, August 29th. Macquarie lifted their price target on shares of Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Barclays boosted their target price on shares of Autodesk from $355.00 to $385.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Finally, Oppenheimer boosted their target price on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and an average target price of $359.13.

Insider Activity

In related news, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the completion of the sale, the executive vice president owned 13,099 shares in the company, valued at $4,240,801.25. This trade represents a 63.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the completion of the sale, the executive vice president owned 13,311 shares of the company's stock, valued at $4,300,251.66. The trade was a 31.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,386 shares of company stock worth $11,433,201. Company insiders own 0.15% of the company's stock.

Autodesk Trading Down 0.9%

Autodesk stock opened at $311.41 on Thursday. The firm has a market capitalization of $66.33 billion, a PE ratio of 64.47, a PEG ratio of 2.78 and a beta of 1.49. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09. The business's 50-day simple moving average is $307.96 and its 200-day simple moving average is $293.70. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76.

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.

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