Autodesk, Inc. $ADSK Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has reduced its stake in Autodesk by 9.4%, selling 11,136 shares, and now holds 106,788 shares worth approximately $27.96 million.
• Insider Rebecca Pearce sold 3,251 shares at an average price of $315.00, resulting in a total transaction value of $1.02 million, decreasing her position by 14.33%.
• Wall Street analysts are optimistic about Autodesk, with an average target price of $343.04, where one analyst rates it a Strong Buy, sixteen a Buy, and seven a Hold.

Rafferty Asset Management LLC trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,788 shares of the software company's stock after selling 11,136 shares during the period. Rafferty Asset Management LLC's holdings in Autodesk were worth $27,957,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Freedom Investment Management Inc. lifted its position in shares of Autodesk by 2.4% during the 1st quarter. Freedom Investment Management Inc. now owns 1,473 shares of the software company's stock valued at $386,000 after acquiring an additional 34 shares during the period. Financial Network Wealth Advisors LLC lifted its position in shares of Autodesk by 34.9% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock valued at $37,000 after acquiring an additional 37 shares during the period. Oregon Pacific Wealth Management LLC lifted its position in shares of Autodesk by 4.0% during the 1st quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock valued at $262,000 after acquiring an additional 38 shares during the period. GPS Wealth Strategies Group LLC lifted its position in shares of Autodesk by 30.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock valued at $46,000 after acquiring an additional 41 shares during the period. Finally, Johnson Financial Group Inc. lifted its position in shares of Autodesk by 30.2% during the 4th quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock valued at $56,000 after acquiring an additional 42 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value 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 approximately $6,123,600. The trade was a 14.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Oppenheimer restated an "outperform" rating and set a $350.00 price objective (up from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Loop Capital assumed coverage on Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 price objective for the company. BMO Capital Markets lifted their price objective on Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research report on Friday, May 23rd. Berenberg Bank upgraded Autodesk from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $325.00 to $365.00 in a research report on Friday, June 27th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $360.00 price objective (up from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $343.04.

Autodesk Stock Down 1.0%

ADSK stock opened at $282.45 on Wednesday. The stock has a market capitalization of $60.44 billion, a P/E ratio of 60.48, a PEG ratio of 2.74 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a one year low of $232.67 and a one year high of $326.62. The company has a 50 day moving average price of $297.62 and a two-hundred day moving average price of $284.80.

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.

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