DE Burlo Group Inc. Decreases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• DE Burlo Group Inc. reduced its stake in Autodesk, Inc. by 68.1%, now holding 38,495 shares valued at approximately $10.1 million.
• Several institutional investors increased their holdings in Autodesk, with UBS AM raising its stake by 28.0% and Geode Capital Management boosting its position by 1.0%.
• Wall Street analysts have varied ratings on Autodesk, with a consensus of "Moderate Buy" and a target price of $342.61, reflecting confidence in the company's growth potential.

DE Burlo Group Inc. decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 68.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,495 shares of the software company's stock after selling 82,245 shares during the period. Autodesk makes up approximately 1.5% of DE Burlo Group Inc.'s holdings, making the stock its 25th largest holding. DE Burlo Group Inc.'s holdings in Autodesk were worth $10,078,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Close Asset Management Ltd purchased a new stake in Autodesk during the first quarter valued at about $27,000. Investment Management Corp VA ADV purchased a new position in shares of Autodesk in the fourth quarter worth about $29,000. Abound Financial LLC purchased a new position in shares of Autodesk in the first quarter worth about $35,000. AllSquare Wealth Management LLC increased its holdings in shares of Autodesk by 161.3% in the first quarter. AllSquare Wealth Management LLC now owns 162 shares of the software company's stock worth $42,000 after buying an additional 100 shares during the period. Finally, Hurley Capital LLC purchased a new position in shares of Autodesk in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insiders Place Their Bets

In related news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 19,440 shares in the company, valued at $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 is available at the SEC website. In the last ninety days, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADSK. Bank of America lifted their price objective on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. reduced their price target on Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Macquarie restated an "outperform" rating and set a $360.00 price target on shares of Autodesk in a report on Friday, July 11th. Citigroup boosted their price target on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Oppenheimer restated an "outperform" rating and set a $350.00 price target (up previously from $300.00) on shares of Autodesk in a report on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $342.61.

Autodesk Stock Up 0.8%

NASDAQ ADSK traded up $2.59 during mid-day trading on Wednesday, reaching $309.20. The stock had a trading volume of 227,867 shares, compared to its average volume of 1,607,765. Autodesk, Inc. has a 1 year low of $223.03 and a 1 year high of $326.62. The stock has a market cap of $66.17 billion, a PE ratio of 66.23, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44. The company has a fifty day moving average price of $299.68 and a 200 day moving average price of $285.97. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

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.