Autodesk, Inc. $ADSK Shares Sold by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management Inc. reduced its holdings in Autodesk by 6.2%, selling 1,000 shares and retaining a total of 15,060 shares valued at approximately $3.94 million.
• Recent analyst reports have been positive, with several firms raising their price targets for Autodesk stock, including Piper Sandler and Barclays, indicating increased investor confidence and a collective "overweight" rating.
• Institutional investors and hedge funds hold 90.24% of Autodesk's stock, suggesting a robust backing from larger financial entities.

Osterweis Capital Management Inc. lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,060 shares of the software company's stock after selling 1,000 shares during the quarter. Osterweis Capital Management Inc.'s holdings in Autodesk were worth $3,943,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Financial Network Wealth Advisors LLC increased its position in shares of Autodesk by 34.9% during the first quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock valued at $37,000 after purchasing an additional 37 shares during the period. Oregon Pacific Wealth Management LLC increased its position in shares of Autodesk by 4.0% during the first quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock valued at $262,000 after purchasing an additional 38 shares during the period. GPS Wealth Strategies Group LLC increased its position in shares of Autodesk by 30.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock valued at $46,000 after purchasing an additional 41 shares during the period. Johnson Financial Group Inc. increased its position in shares of Autodesk by 30.2% during the fourth quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock valued at $56,000 after purchasing an additional 42 shares during the period. Finally, Sky Investment Group LLC increased its position in shares of Autodesk by 0.5% during the first quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock valued at $2,183,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Wall Street Analysts Forecast Growth

ADSK has been the subject of several recent analyst reports. Piper Sandler increased their price objective on Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Stifel Nicolaus increased their price objective on Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Barclays increased their price objective on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and set a $350.00 price objective (up from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $360.00 price objective (up from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $342.61.

Insider Transactions at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction dated 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 in the company, valued at $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 9,391 shares of company stock valued at $2,909,885 in the last quarter. 0.15% of the stock is owned by company insiders.

Autodesk Price Performance

Shares of ADSK stock opened at $289.24 on Wednesday. The stock's fifty day moving average is $298.64 and its 200-day moving average is $285.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $61.90 billion, a PE ratio of 61.94, a PEG ratio of 2.79 and a beta of 1.46. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.62.

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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