Thomasville National Bank Sells 858 Shares of Autodesk, Inc. $ADSK

Key Points

• Thomasville National Bank reduced its holdings in Autodesk, Inc. by 1.2%, now owning 67,992 shares valued at approximately $21 million, making it the bank's 26th largest holding.
• Recent insider transactions included EVP Steven M. Blum selling 22,420 shares for over $7 million, reflecting a 63.12% decrease in ownership, while several institutional investors have increased their stakes.
• Analysts have shown positive sentiment towards Autodesk, with upgrades and increased price targets, as the stock receives a consensus rating of "Moderate Buy" and an average price target of approximately $356.83.

Thomasville National Bank trimmed its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,992 shares of the software company's stock after selling 858 shares during the quarter. Autodesk comprises approximately 1.4% of Thomasville National Bank's holdings, making the stock its 26th largest position. Thomasville National Bank's holdings in Autodesk were worth $21,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cheviot Value Management LLC acquired a new stake in shares of Autodesk in the 1st quarter valued at approximately $27,000. SouthState Corp grew its position in shares of Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after buying an additional 80 shares during the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Autodesk in the fourth quarter worth $29,000. Livelsberger Financial Advisory purchased a new stake in shares of Autodesk in the second quarter worth about $31,000. Finally, Costello Asset Management INC purchased a new position in Autodesk during the 1st quarter worth $26,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Insiders Place Their Bets

In other news, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total value of $869,991.10. Following the transaction, the executive vice president owned 80,255 shares in the company, valued at approximately $25,288,350.50. This represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven M. Blum sold 22,420 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the transaction, the executive vice president owned 13,099 shares of the company's stock, valued at approximately $4,240,801.25. The trade was a 63.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,830 shares of company stock worth $13,123,341. Company insiders own 0.15% of the company's stock.

Autodesk Trading Down 0.1%

NASDAQ:ADSK traded down $0.30 during trading hours on Tuesday, hitting $324.09. The company had a trading volume of 359,476 shares, compared to its average volume of 1,620,552. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average of $302.99 and a 200 day moving average of $289.00. The company has a market cap of $69.03 billion, a P/E ratio of 67.07, a P/E/G ratio of 2.86 and a beta of 1.49. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09.

Analyst Ratings Changes

ADSK has been the subject of several research reports. Citigroup boosted their price objective on Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Oppenheimer boosted their price target on Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a report on Friday, August 29th. UBS Group upped their price objective on shares of Autodesk from $370.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, August 29th. KeyCorp raised 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. Finally, Piper Sandler raised their price target on shares of Autodesk from $361.00 to $373.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Autodesk has an average rating of "Moderate Buy" and a consensus target price of $356.83.

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.