Czech National Bank Buys 2,913 Shares of Autodesk, Inc. $ADSK

Key Points

• The Czech National Bank increased its stake in Autodesk, Inc. by 5.9%, owning a total of 52,295 shares valued at approximately $16.2 million.
• A number of institutional investors have significantly raised their positions in Autodesk, with SouthState Corp increasing its stake by 500%, indicating strong institutional interest in the company.
• Analysts have been optimistic about Autodesk's stock, with multiple firms raising their price targets, leading to a consensus rating of "Moderate Buy" and a target price of $356.83.

Czech National Bank lifted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,295 shares of the software company's stock after purchasing an additional 2,913 shares during the quarter. Czech National Bank's holdings in Autodesk were worth $16,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADSK. Sandy Cove Advisors LLC lifted its position in Autodesk by 10.5% in the second quarter. Sandy Cove Advisors LLC now owns 861 shares of the software company's stock valued at $267,000 after purchasing an additional 82 shares during the last quarter. Range Financial Group LLC lifted its position in Autodesk by 12.9% in the second quarter. Range Financial Group LLC now owns 1,145 shares of the software company's stock valued at $354,000 after purchasing an additional 131 shares during the last quarter. Canandaigua National Trust Co of Florida bought a new position in Autodesk during the 2nd quarter valued at approximately $207,000. Livelsberger Financial Advisory purchased a new stake in Autodesk in the 2nd quarter worth approximately $31,000. Finally, NBC Securities Inc. lifted its holdings in Autodesk by 3.8% in the 2nd quarter. NBC Securities Inc. now owns 5,961 shares of the software company's stock worth $1,845,000 after buying an additional 218 shares during the period. Institutional investors own 90.24% of the company's stock.

Insider Activity at Autodesk

In other Autodesk news, EVP Ruth Ann Keene sold 2,761 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the sale, the executive vice president owned 80,255 shares of the company's stock, valued at $25,288,350.50. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the transaction, the executive vice president directly owned 13,311 shares in the company, valued at approximately $4,300,251.66. This represents a 31.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,374 shares of company stock valued at $13,899,261. 0.15% of the stock is owned by corporate insiders.

Autodesk Stock Performance

ADSK traded down $0.37 on Friday, reaching $322.67. The company had a trading volume of 3,364,367 shares, compared to its average volume of 1,756,348. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09. The stock has a market capitalization of $68.73 billion, a PE ratio of 66.81, a P/E/G ratio of 2.86 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average price of $302.39 and a 200-day moving average price of $288.35.

Analyst Ratings Changes

Several research firms have weighed in on ADSK. KeyCorp increased their price objective on Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. UBS Group lifted their target price on Autodesk from $370.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Mizuho raised their price target on Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Piper Sandler lifted their target price on Autodesk from $361.00 to $373.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Finally, DA Davidson restated a "buy" rating and issued a $375.00 price objective on shares of Autodesk in a research report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Autodesk currently 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.