Woodline Partners LP Sells 10,626 Shares of Autodesk, Inc. $ADSK

Key Points

• Woodline Partners LP has decreased its stake in Autodesk, Inc. by 2.2%, owning 478,413 shares worth approximately $125 million, making it the firm's 11th largest holding.
• Analysts remain bullish on Autodesk, with multiple firms raising their price targets, including Berenberg Bank at $370 and Mizuho at $375, reflecting high confidence in the company's performance.
• Insider selling has occurred, with Director Ayanna Howard selling over 3,100 shares, valued at about $1 million, which may indicate changes in confidence or liquidity preferences among executives.

Woodline Partners LP reduced its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 478,413 shares of the software company's stock after selling 10,626 shares during the quarter. Autodesk makes up 0.8% of Woodline Partners LP's portfolio, making the stock its 11th largest holding. Woodline Partners LP owned approximately 0.22% of Autodesk worth $125,249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in shares of Autodesk by 210.2% during the first quarter. Empowered Funds LLC now owns 19,969 shares of the software company's stock valued at $5,228,000 after acquiring an additional 13,531 shares during the period. MBB Public Markets I LLC bought a new position in shares of Autodesk during the first quarter valued at $308,000. Ascent Group LLC bought a new position in shares of Autodesk during the first quarter valued at $545,000. Visualize Group LP lifted its holdings in shares of Autodesk by 65.0% during the first quarter. Visualize Group LP now owns 115,734 shares of the software company's stock valued at $30,299,000 after acquiring an additional 45,600 shares during the period. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of Autodesk by 1,161.7% in the first quarter. Coppell Advisory Solutions LLC now owns 3,495 shares of the software company's stock valued at $954,000 after buying an additional 3,218 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research analyst reports. Oppenheimer lifted 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. DA Davidson reaffirmed a "buy" rating and issued a $375.00 price target on shares of Autodesk in a report on Friday, August 29th. Macquarie lifted their price target on Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Robert W. Baird lifted their price objective on Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, The Goldman Sachs Group lifted their price objective on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $356.83.

Autodesk Stock Down 1.7%

Shares of NASDAQ:ADSK traded down $5.47 during trading on Friday, hitting $319.05. 1,077,474 shares of the company's stock traded hands, compared to its average volume of 1,685,043. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09. 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 market cap of $67.96 billion, a price-to-earnings ratio of 66.06, a price-to-earnings-growth ratio of 2.88 and a beta of 1.49. The company has a 50-day moving average price of $300.38 and a 200-day moving average price of $286.67.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $323.06, for a total value of $1,980,034.74. Following the sale, the executive vice president owned 13,311 shares in the company, valued at approximately $4,300,251.66. The trade was a 31.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ayanna Howard sold 3,159 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $325.00, for a total value of $1,026,675.00. Following the completion of the sale, the director owned 4,393 shares in the company, valued at $1,427,725. The trade was a 41.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,860 shares of company stock worth $14,045,061. 0.15% of the stock is currently owned by insiders.

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.