Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel significantly reduced its stake in Autodesk, Inc. by 80%, selling 19,406 shares and ending with 4,860 shares valued at approximately $1.18 million.
• Several hedge funds increased their stakes in Autodesk, including Brighton Jones LLC (up 14.5%) and LPL Financial LLC (up 13.7%), indicating renewed investor interest.
• Wall Street analysts have mixed ratings for Autodesk, with seven rating it as a hold and a consensus price target of $342.61, highlighting varied expectations for its future performance.

Carnegie Investment Counsel trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 80.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,860 shares of the software company's stock after selling 19,406 shares during the period. Carnegie Investment Counsel's holdings in Autodesk were worth $1,184,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ADSK. Brighton Jones LLC boosted its stake in Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock worth $343,000 after buying an additional 147 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Autodesk in the 4th quarter worth about $202,000. LPL Financial LLC boosted its stake in Autodesk by 13.7% in the 4th quarter. LPL Financial LLC now owns 194,851 shares of the software company's stock worth $57,592,000 after buying an additional 23,438 shares during the last quarter. TIAA Trust National Association boosted its stake in Autodesk by 3.7% in the 4th quarter. TIAA Trust National Association now owns 2,644 shares of the software company's stock worth $782,000 after buying an additional 95 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Autodesk by 8.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 354,639 shares of the software company's stock worth $104,285,000 after buying an additional 27,131 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. The trade was a 14.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 9,391 shares of company stock valued at $2,909,885 in the last three months. 0.15% of the stock is currently owned by company insiders.

Autodesk Stock Up 0.7%

NASDAQ:ADSK opened at $303.28 on Friday. The company has a market capitalization of $64.90 billion, a price-to-earnings ratio of 64.94, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The stock has a 50-day simple moving average of $299.29 and a 200 day simple moving average of $285.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADSK. DA Davidson raised Autodesk to a "strong-buy" rating in a research note on Tuesday. Macquarie reaffirmed an "outperform" rating and issued a $360.00 price objective on shares of Autodesk in a research note on Friday, July 11th. Bank of America lifted their price objective on Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. The Goldman Sachs Group lifted their price objective on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, BMO Capital Markets lifted their price objective on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research note on Friday, May 23rd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $342.61.

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.

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