Procyon Advisors LLC Buys 1,583 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Procyon Advisors LLC increased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,954 shares of the software company's stock after purchasing an additional 1,583 shares during the period. Procyon Advisors LLC's holdings in Autodesk were worth $6,533,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADSK. Golden State Wealth Management LLC bought a new stake in shares of Autodesk during the 4th quarter worth $25,000. Investment Management Corp VA ADV acquired a new stake in shares of Autodesk in the fourth quarter valued at about $29,000. Tradewinds Capital Management LLC increased its stake in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock valued at $30,000 after buying an additional 50 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in shares of Autodesk in the 4th quarter valued at about $30,000. Finally, Addison Advisors LLC lifted its stake in shares of Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company's stock valued at $36,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Trading Down 0.2%

Shares of Autodesk stock traded down $0.65 during mid-day trading on Monday, hitting $297.21. The stock had a trading volume of 1,316,637 shares, compared to its average volume of 1,572,575. The firm has a 50-day moving average of $277.69 and a two-hundred day moving average of $285.74. Autodesk, Inc. has a 12-month low of $205.86 and a 12-month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market cap of $63.60 billion, a P/E ratio of 58.97, a price-to-earnings-growth ratio of 2.94 and a beta of 1.45.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company reissued an "overweight" rating and set a $360.00 price objective (up from $345.00) on shares of Autodesk in a report on Friday, May 23rd. Barclays lifted their price objective on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Rosenblatt Securities reiterated a "buy" rating and set a $340.00 target price on shares of Autodesk in a report on Tuesday, May 20th. Macquarie reiterated an "outperform" rating and set a $360.00 target price on shares of Autodesk in a report on Friday, February 28th. Finally, Piper Sandler boosted their price target on Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Autodesk has an average rating of "Moderate Buy" and an average target price of $337.45.

Insiders Place Their Bets

In other news, Director John T. Cahill acquired 2,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. The trade was a 44.95% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is 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.