Callan Family Office LLC Decreases Position in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Callan Family Office LLC reduced its holdings in Autodesk by 41.0%, selling 1,277 shares, and now owns 1,841 shares valued at approximately $482,000.
• Several hedge funds, including Brighton Jones LLC and Rockefeller Capital Management L.P., have increased their positions in Autodesk, indicating a growing interest, with 90.24% of the stock held by institutional investors.
• Analysts have set new price targets for Autodesk, with a consensus rating of "Moderate Buy" and an average target of $342.61, reflecting positive sentiment toward the company's future performance.

Callan Family Office LLC trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 41.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,841 shares of the software company's stock after selling 1,277 shares during the quarter. Callan Family Office LLC's holdings in Autodesk were worth $482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ADSK. SouthState Corp grew its position in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Autodesk in the 1st quarter worth approximately $26,000. Close Asset Management Ltd bought a new stake in shares of Autodesk in the 1st quarter worth approximately $27,000. Cheviot Value Management LLC bought a new stake in shares of Autodesk in the 1st quarter worth approximately $27,000. Finally, Investment Management Corp VA ADV bought a new stake in shares of Autodesk in the 4th quarter worth approximately $29,000. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the company'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 completion of the transaction, the executive vice president owned 19,440 shares of the company's stock, valued at $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 is available at this hyperlink. Insiders sold a total of 9,391 shares of company stock valued at $2,909,885 over the last three months. Corporate insiders own 0.15% of the company's stock.

Autodesk Stock Performance

NASDAQ:ADSK traded up $2.98 during mid-day trading on Friday, hitting $286.73. 1,149,378 shares of the company traded hands, compared to its average volume of 1,432,251. The stock's fifty day moving average price is $298.96 and its 200-day moving average price is $285.92. Autodesk, Inc. has a one year low of $232.67 and a one year 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 $61.36 billion, a price-to-earnings ratio of 61.40, a price-to-earnings-growth ratio of 2.76 and a beta of 1.46.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ADSK shares. Citigroup lifted their price objective on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. DA Davidson upgraded Autodesk to a "strong-buy" rating in a research report on Tuesday, July 22nd. BMO Capital Markets lifted their price objective on Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research report on Friday, May 23rd. Bank of America lifted their price objective on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $345.00 price objective (up from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

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.