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

Key Points

• Cresset Asset Management LLC reduced its position in Autodesk by 22.7%, now holding 4,029 shares valued at approximately $1.05 million.
• Several hedge funds increased their holdings in Autodesk, with SouthState Corp upping theirs by 500% during the same quarter.
• Analysts have varying positive ratings for Autodesk, with price targets ranging from $300.00 to $365.00, indicating strong market interest.

Cresset Asset Management LLC cut its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 22.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,029 shares of the software company's stock after selling 1,182 shares during the period. Cresset Asset Management LLC's holdings in Autodesk were worth $1,055,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Alliance Wealth Advisors LLC UT raised its stake in Autodesk by 33.0% in the first quarter. Alliance Wealth Advisors LLC UT now owns 2,743 shares of the software company's stock valued at $718,000 after buying an additional 680 shares in the last quarter. Ethic Inc. raised its stake in Autodesk by 10.8% in the first quarter. Ethic Inc. now owns 25,058 shares of the software company's stock valued at $6,630,000 after buying an additional 2,446 shares in the last quarter. Martin Currie Ltd. raised its stake in Autodesk by 30.5% in the first quarter. Martin Currie Ltd. now owns 236,345 shares of the software company's stock valued at $61,875,000 after buying an additional 55,289 shares in the last quarter. Element Capital Management LLC acquired a new stake in Autodesk in the first quarter valued at $2,633,000. Finally, Dimensional Fund Advisors LP raised its stake in Autodesk by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,028,792 shares of the software company's stock valued at $269,314,000 after buying an additional 25,477 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Performance

ADSK stock traded up $3.50 during trading on Wednesday, hitting $285.95. The company had a trading volume of 1,389,144 shares, compared to its average volume of 1,365,788. The firm has a market cap of $61.19 billion, a PE ratio of 61.23, a price-to-earnings-growth ratio of 2.72 and a beta of 1.46. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $326.62. The firm has a 50-day moving average price of $297.44 and a 200-day moving average price of $284.81. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Transactions at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the transaction, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. The trade was a 14.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 9,391 shares of company stock valued at $2,909,885. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADSK. Citigroup raised their price target on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Macquarie reiterated an "outperform" rating and set a $360.00 target price on shares of Autodesk in a research report on Friday, July 11th. Barclays lifted their target price on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating 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 target price on the stock. Finally, DA Davidson upgraded Autodesk to a "strong-buy" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and an average target price of $343.04.

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.