Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by DSM Capital Partners LLC

Key Points

• DSM Capital Partners LLC reduced its holdings in Autodesk, Inc. by 13.5% in the first quarter, now owning 460,824 shares valued at approximately $120.6 million.
• Insider activity includes EVP Rebecca Pearce selling 3,251 shares for over $1 million, which represents a 14.33% decrease in her position.
• Analysts maintain a mostly positive outlook for Autodesk, with a consensus price target of $342.61 and several firms issuing "buy" ratings, projecting significant potential growth.

DSM Capital Partners LLC cut its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 460,824 shares of the software company's stock after selling 71,704 shares during the quarter. Autodesk makes up approximately 2.1% of DSM Capital Partners LLC's portfolio, making the stock its 17th largest holding. DSM Capital Partners LLC owned 0.22% of Autodesk worth $120,644,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. SouthState Corp boosted its position in Autodesk by 500.0% during the first 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 acquired a new stake in Autodesk during the first quarter worth approximately $26,000. Close Asset Management Ltd acquired a new stake in Autodesk during the first quarter worth approximately $27,000. Cheviot Value Management LLC acquired a new stake in Autodesk during the first quarter worth approximately $27,000. Finally, Investment Management Corp VA ADV acquired a new stake in Autodesk during the fourth quarter worth approximately $29,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction dated 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 of the company's stock, valued at approximately $6,123,600. The trade was a 14.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 9,391 shares of company stock valued at $2,909,885. Insiders own 0.15% of the company's stock.

Autodesk Trading Up 1.4%

NASDAQ ADSK opened at $287.01 on Thursday. Autodesk, Inc. has a one year low of $232.67 and a one year high of $326.62. The company has a 50-day simple moving average of $299.47 and a 200-day simple moving average of $286.18. 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 firm has a market capitalization of $61.42 billion, a PE ratio of 61.46, a price-to-earnings-growth ratio of 2.72 and a beta of 1.46.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ADSK shares. Wells Fargo & Company restated an "overweight" rating and set a $360.00 target price (up previously from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Stifel Nicolaus lifted their price target on shares of Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Rosenblatt Securities reiterated a "buy" rating and issued a $340.00 price target on shares of Autodesk in a report on Tuesday, May 20th. Robert W. Baird lifted their price target on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Citigroup raised their price objective on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.

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