UNIVEST FINANCIAL Corp Decreases Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• UNIVEST FINANCIAL Corp reduced its stake in Autodesk, Inc. by 29.1% during Q1, now owning 9,024 shares valued at $2,362,000.
• Several institutional investors have increased their holdings in Autodesk, with Brighton Jones LLC raising its stake by 14.5% in the fourth quarter.
• Wall Street analysts remain optimistic, with a consensus rating of "Moderate Buy" and an average price target of $342.61 for Autodesk shares.

UNIVEST FINANCIAL Corp cut its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 29.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,024 shares of the software company's stock after selling 3,695 shares during the period. UNIVEST FINANCIAL Corp's holdings in Autodesk were worth $2,362,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Spire Wealth Management raised its holdings in Autodesk by 2.5% in the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after purchasing an additional 50 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Autodesk during the 1st quarter valued at about $324,000. Cambridge Investment Research Advisors Inc. grew its holdings in Autodesk by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after purchasing an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Autodesk by 27.4% during 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 in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Autodesk by 5.4% during 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. 90.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on ADSK shares. Mizuho reduced their price objective on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Barclays lifted 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. The Goldman Sachs Group increased their price objective on shares of Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Piper Sandler lifted their target price on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, Berenberg Bank upgraded shares of Autodesk from a "hold" rating to a "buy" rating and increased their price target for the company from $325.00 to $365.00 in a report on Friday, June 27th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $342.61.

Autodesk Stock Performance

Shares of ADSK stock traded down $6.09 during mid-day trading on Friday, reaching $297.02. 1,303,875 shares of the company's stock traded hands, compared to its average volume of 1,731,943. 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 $63.56 billion, a PE ratio of 63.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. The firm has a 50 day moving average price of $300.18 and a two-hundred day moving average price of $286.28.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the company'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. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 9,391 shares of company stock worth $2,909,885 over the last three months. Insiders own 0.15% of the company's stock.

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.