Autodesk, Inc. $ADSK Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD has significantly reduced its stake in Autodesk, Inc. by 83.8%, now owning 811,901 shares after selling over 4.2 million shares.
• Despite the reduction by one major investor, Autodesk saw a 1.5% increase in stock price, with current trading around $290.23.
• Several analysts have upgraded Autodesk’s ratings, with DA Davidson assigning a "strong-buy" rating and a consensus target price of $343.04 among analysts.

Price T Rowe Associates Inc. MD reduced its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 83.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 811,901 shares of the software company's stock after selling 4,211,723 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.38% of Autodesk worth $212,556,000 as of its most recent filing with the SEC.

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

Autodesk Stock Up 1.5%

ADSK opened at $290.23 on Friday. The business has a 50 day moving average price of $298.19 and a two-hundred day moving average price of $285.08. 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 cap of $62.11 billion, a PE ratio of 62.15, a P/E/G 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.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. DA Davidson raised Autodesk to a "strong-buy" rating in a research report on Tuesday, July 22nd. Robert W. Baird boosted their target price on Autodesk from $335.00 to $345.00 and gave the company an "outperform" rating in a report on Thursday. Citigroup boosted their target price on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Loop Capital began coverage on Autodesk in a report on Monday, July 21st. They issued a "hold" rating and a $320.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and a consensus target price of $343.04.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the sale, the executive vice president directly owned 19,440 shares of the company's stock, valued at $6,123,600. This represents a 14.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.