Autodesk, Inc. $ADSK Shares Sold by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC reduced its holdings in Autodesk, Inc. by 5.1%, now owning 333,499 shares valued at approximately $87.3 million.
• Several analysts have issued upgraded price targets for Autodesk, with the average price target now set at $343.04 and a consensus rating of "Moderate Buy".
• Institutional ownership accounts for 90.24% of Autodesk's stock, indicating strong support from large investors.

Parnassus Investments LLC trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 333,499 shares of the software company's stock after selling 17,856 shares during the period. Parnassus Investments LLC owned about 0.16% of Autodesk worth $87,310,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADSK. Vanguard Group Inc. increased its stake in Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after purchasing an additional 397,458 shares during the period. Ninety One UK Ltd lifted its position in shares of Autodesk by 1.6% during the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after purchasing an additional 79,900 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Autodesk by 44.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock worth $868,736,000 after acquiring an additional 1,016,187 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Autodesk by 28.0% in 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 purchasing an additional 667,763 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Autodesk by 4.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock worth $785,470,000 after buying an additional 124,948 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Up 1.4%

Shares of Autodesk stock traded up $4.37 during trading hours on Tuesday, hitting $319.07. 2,197,803 shares of the company's stock traded hands, compared to its average volume of 1,621,672. The company has a quick ratio of 0.65, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.62. The stock has a 50 day simple moving average of $297.93 and a 200-day simple moving average of $284.66. The company has a market cap of $68.28 billion, a PE ratio of 66.06, a PEG ratio of 3.03 and a beta of 1.49.

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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of the company's stock in a transaction on Friday, August 29th. The stock was 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 approximately $4,300,251.66. The trade was a 31.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,679 shares of company stock valued at $5,916,595 over the last quarter. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADSK. Stifel Nicolaus increased their price objective on Autodesk from $350.00 to $375.00 and gave the company a "buy" rating in a report on Friday. Bank of America raised their target price on Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a report on Friday. Morgan Stanley lifted their price target on shares of Autodesk from $370.00 to $385.00 and gave the company an "overweight" rating in a research report on Sunday. UBS Group boosted their price objective on shares of Autodesk from $370.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Piper Sandler increased their target price on Autodesk from $361.00 to $373.00 and gave the company an "overweight" rating in a report on Friday. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $356.83.

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.