Lansforsakringar Fondforvaltning AB publ Reduces Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its position in Autodesk, Inc. by 2.9%, selling 2,050 shares, leaving them with a total of 69,727 shares valued at approximately $18.3 million.
• Multiple institutional investors increased their stakes in Autodesk during the first quarter, with Wealth Enhancement Advisory Services LLC growing its holdings by 27.4%.
• Recent analysts' reports have positively impacted Autodesk's stock, with several firms raising their price targets, including Morgan Stanley, which set a new target of $370.00.

Lansforsakringar Fondforvaltning AB publ lowered its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,727 shares of the software company's stock after selling 2,050 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Autodesk were worth $18,255,000 as of its most recent filing with the Securities & Exchange Commission.

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

Autodesk Stock Performance

Shares of ADSK traded down $3.62 during trading hours on Wednesday, hitting $315.55. The stock had a trading volume of 679,430 shares, compared to its average volume of 1,621,178. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.65 and a current ratio of 0.76. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $326.62. The firm has a market capitalization of $67.53 billion, a price-to-earnings ratio of 65.39, a PEG ratio of 3.03 and a beta of 1.49. The firm has a 50-day moving average price of $298.23 and a 200 day moving average price of $284.90.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of the 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 transaction, the executive vice president owned 13,311 shares of the company's stock, valued at $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ayanna Howard sold 3,159 shares of the business's stock in a transaction that occurred 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 $1,427,725. This trade represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,679 shares of company stock valued at $5,916,595 in the last three months. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADSK. Rosenblatt Securities upped their target price on Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, August 29th. DA Davidson reiterated a "buy" rating and issued a $375.00 target price on shares of Autodesk in a research note on Friday, August 29th. Macquarie increased their price target on shares of Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. KeyCorp boosted their price objective on shares of Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Finally, Mizuho lifted their price target on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a report on Friday. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and an average target price of $356.83.

Autodesk Company 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.