Qtron Investments LLC Cuts Stake in Autodesk, Inc. $ADSK

Key Points

• Qtron Investments LLC significantly reduced its holdings in Autodesk by 42.8%, selling 1,933 shares to hold 2,582 shares valued at $676,000.
• Several institutional investors, including Vanguard Group Inc. and UBS Asset Management, have increased their stakes in Autodesk, highlighting strong institutional interest in the company.
• Analysts have raised their price targets for Autodesk shares, with multiple firms assigning an "overweight" or "outperform" rating, indicating a strong outlook for the company moving forward.

Qtron Investments LLC lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 42.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,582 shares of the software company's stock after selling 1,933 shares during the period. Qtron Investments LLC's holdings in Autodesk were worth $676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ADSK. Farallon Capital Management LLC bought a new position in Autodesk during the 4th quarter valued at about $544,381,000. GAMMA Investing LLC lifted its stake in shares of Autodesk by 27,505.2% in the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after purchasing an additional 1,465,204 shares during the period. Nuveen LLC bought a new position in shares of Autodesk in the 1st quarter worth approximately $278,383,000. Janus Henderson Group PLC lifted its stake in shares of Autodesk by 43.7% in the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock worth $652,127,000 after purchasing an additional 670,699 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Autodesk by 28.0% in the 4th 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 worth $902,597,000 after purchasing an additional 667,763 shares during the period. Institutional investors own 90.24% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ADSK shares. KeyCorp reiterated an "overweight" rating and issued a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. DA Davidson upgraded shares of Autodesk to a "strong-buy" rating in a research note on Tuesday, July 22nd. Loop Capital started coverage on shares of Autodesk in a research note on Monday, July 21st. They issued a "hold" rating and a $320.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Robert W. Baird increased their price objective on shares of Autodesk from $335.00 to $345.00 and gave the stock an "outperform" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $343.04.

Autodesk Stock Performance

NASDAQ ADSK traded up $4.17 on Friday, reaching $290.23. 1,116,901 shares of the stock were exchanged, compared to its average volume of 1,298,137. Autodesk, Inc. has a one year low of $232.67 and a one year high of $326.62. The firm has a market capitalization of $62.11 billion, a PE ratio of 62.15, a PEG ratio of 2.75 and a beta of 1.46. The company's 50-day simple moving average is $298.19 and its two-hundred day simple moving average is $285.27. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity 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.