Gulf International Bank UK Ltd Sells 4,047 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Gulf International Bank UK Ltd has reduced its stake in Autodesk by 24.2%, selling 4,047 shares and holding a total of 12,688 shares valued at $3,321,000.
• Institutional investors and hedge funds now own 90.24% of Autodesk's stock, with several firms like National Pension Service and GKV Capital Management significantly increasing their holdings in the first quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for Autodesk, with a price target around $342.61, reflecting confidence in the company's potential for growth.

Gulf International Bank UK Ltd lessened its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 24.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,688 shares of the software company's stock after selling 4,047 shares during the period. Gulf International Bank UK Ltd's holdings in Autodesk were worth $3,321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Spire Wealth Management increased its position in Autodesk by 2.5% during the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after buying an additional 50 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Autodesk in the first quarter valued at approximately $324,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Autodesk by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock valued at $3,565,000 after purchasing an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Autodesk by 27.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock valued at $11,212,000 after purchasing an additional 9,222 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Autodesk by 5.4% in the first quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock valued at $1,471,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

Insider Activity at Autodesk

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

Analyst Ratings Changes

Several equities analysts have recently commented on ADSK shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $360.00 target price (up previously from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $340.00 target price on shares of Autodesk in a research report on Tuesday, May 20th. Barclays increased their price target on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Citigroup increased their price target on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, BMO Capital Markets increased their price target on Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research report on Friday, May 23rd. Seven 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $342.61.

Autodesk Price Performance

Shares of ADSK traded up $2.98 during trading hours on Friday, reaching $286.73. The stock had a trading volume of 1,149,378 shares, compared to its average volume of 1,432,251. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $326.62. The stock has a market capitalization of $61.36 billion, a PE ratio of 61.40, a PEG ratio of 2.73 and a beta of 1.46. 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 company's 50-day moving average is $298.96 and its two-hundred day moving average is $285.92.

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.