Autodesk, Inc. $ADSK Stake Raised by Lbp Am Sa

Key Points

• Lbp Am Sa increased its stake in Autodesk, Inc. by 15.4% during the second quarter, now owning 61,797 shares valued at approximately $19.13 million.
• Several institutional investors, including T. Rowe Price and Vanguard Group, have also significantly raised their holdings in Autodesk, contributing to 90.24% of the stock being owned by institutional investors.
• Analysts have adjusted their ratings and price targets for Autodesk, with Oppenheimer raising its price objective to $375.00, while thirteen analysts maintain a "Buy" rating for the stock.

Lbp Am Sa boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,797 shares of the software company's stock after acquiring an additional 8,237 shares during the quarter. Lbp Am Sa's holdings in Autodesk were worth $19,130,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after acquiring an additional 397,458 shares in the last quarter. Ninety One UK Ltd raised its position in Autodesk by 1.6% in the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after acquiring an additional 79,900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Autodesk by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after acquiring an additional 400,514 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Autodesk by 44.1% in the first 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. Finally, Massachusetts Financial Services Co. MA raised its position in Autodesk by 4.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock worth $785,470,000 after acquiring an additional 124,948 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Steven M. Blum sold 22,420 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the transaction, the executive vice president owned 13,099 shares in the company, valued at $4,240,801.25. This represents a 63.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total value of $869,991.10. Following the completion of the transaction, the executive vice president owned 80,255 shares in the company, valued at $25,288,350.50. This represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,720 shares of company stock worth $12,159,241 over the last quarter. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Autodesk from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Oppenheimer upped their price objective on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Bank of America upped their price objective on shares of Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Wells Fargo & Company upped their price objective on shares of Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Finally, KeyCorp upped their price objective on shares of Autodesk from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $356.83.

Autodesk Price Performance

Shares of ADSK opened at $317.67 on Wednesday. The company has a market capitalization of $67.66 billion, a price-to-earnings ratio of 65.77, a P/E/G ratio of 2.85 and a beta of 1.49. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. The business's 50-day moving average is $306.36 and its 200-day moving average is $291.70.

Autodesk Company 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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