UNIVEST FINANCIAL Corp Trims Holdings 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 reduced its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 29.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,024 shares of the software company's stock after selling 3,695 shares during the quarter. UNIVEST FINANCIAL Corp's holdings in Autodesk were worth $2,362,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ADSK. Oregon Pacific Wealth Management LLC raised its holdings in Autodesk by 4.0% in the 1st quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock worth $262,000 after acquiring an additional 38 shares during the last quarter. GPS Wealth Strategies Group LLC raised its stake in shares of Autodesk by 30.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock worth $46,000 after purchasing an additional 41 shares during the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Autodesk by 30.2% during the fourth quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock valued at $56,000 after purchasing an additional 42 shares in the last quarter. Sky Investment Group LLC boosted its position in shares of Autodesk by 0.5% during the first quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock valued at $2,183,000 after buying an additional 42 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in Autodesk by 3.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,123 shares of the software company's stock worth $294,000 after buying an additional 42 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Insiders Place Their Bets

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 stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 9,391 shares of company stock valued at $2,909,885 in the last quarter. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised 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. The Goldman Sachs Group raised their target price on shares of Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Morgan Stanley reissued an "overweight" rating and set a $370.00 price target (up from $330.00) on shares of Autodesk in a report on Friday, May 23rd. BMO Capital Markets lifted their price objective on Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a report on Friday, May 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $345.00 target price (up previously from $313.03) on shares of Autodesk in a report on Friday, May 23rd. Seven equities research 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $342.61.

Autodesk Price Performance

Shares of Autodesk stock traded down $2.68 during trading on Tuesday, reaching $299.82. 431,815 shares of the stock traded hands, compared to its average volume of 1,597,467. 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, Inc. has a 52-week low of $229.32 and a 52-week high of $326.62. The business has a fifty day simple moving average of $300.32 and a two-hundred day simple moving average of $286.33. The company has a market capitalization of $64.16 billion, a price-to-earnings ratio of 64.20, a P/E/G ratio of 2.86 and a beta of 1.46.

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.