Kovitz Investment Group Partners LLC Has $8.35 Million Stake in Autodesk, Inc. $ADSK

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in Autodesk by 297.4% during the first quarter, owning 31,907 shares worth approximately $8.35 million following the acquisition of an additional 23,878 shares.
• Wall Street analysts are optimistic about Autodesk's future, with multiple brokerages raising their price targets and the average target price now at $342.61, indicating a "Moderate Buy" rating overall.
• Insider trading activity shows that Autodesk's EVP, Rebecca Pearce, sold 3,251 shares for over $1 million, reflecting a 14.33% decrease in her holdings, amid a larger trend of insider selling in the past three months.

Kovitz Investment Group Partners LLC raised its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 297.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,907 shares of the software company's stock after purchasing an additional 23,878 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Autodesk were worth $8,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADSK. Brighton Jones LLC lifted its position in shares of Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after acquiring an additional 147 shares during the last quarter. Mariner LLC lifted its position in shares of Autodesk by 3.7% during the 4th quarter. Mariner LLC now owns 27,948 shares of the software company's stock valued at $8,261,000 after acquiring an additional 1,006 shares during the last quarter. Insigneo Advisory Services LLC lifted its position in shares of Autodesk by 10.1% during the 4th quarter. Insigneo Advisory Services LLC now owns 1,042 shares of the software company's stock valued at $308,000 after acquiring an additional 96 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Autodesk by 1.9% during the 4th quarter. NewEdge Advisors LLC now owns 12,170 shares of the software company's stock valued at $3,597,000 after acquiring an additional 229 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Autodesk by 16.1% during the 4th quarter. Marshall Wace LLP now owns 43,061 shares of the software company's stock valued at $12,728,000 after acquiring an additional 5,984 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Down 0.3%

Shares of NASDAQ ADSK traded down $0.95 during mid-day trading on Wednesday, reaching $288.29. The company had a trading volume of 558,116 shares, compared to its average volume of 1,589,137. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $61.69 billion, a PE ratio of 61.76, a price-to-earnings-growth ratio of 2.79 and a beta of 1.46. The stock's 50 day moving average is $298.64 and its 200-day moving average is $285.50.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ADSK. Rosenblatt Securities reiterated a "buy" rating and set a $340.00 price objective on shares of Autodesk in a research report on Tuesday, May 20th. Morgan Stanley restated an "overweight" rating and issued a $370.00 target price (up previously from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Citigroup increased their target price on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Macquarie restated an "outperform" rating and issued a $360.00 target price on shares of Autodesk in a report on Friday, July 11th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $360.00 target price (up previously from $345.00) on shares of Autodesk in a report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $342.61.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the transaction, the executive vice president directly owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 9,391 shares of company stock valued at $2,909,885 over the last 90 days. Corporate insiders own 0.15% of the company's stock.

About Autodesk

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.