Baillie Gifford & Co. Sells 145,528 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Baillie Gifford & Co. reduced its stake in Autodesk, Inc. by 15.8%, selling over 145,000 shares, which now holds a total value of approximately $203.7 million.
• Several other institutional investors increased their positions in Autodesk during the 1st quarter, with Pacer Advisors Inc. notably growing its stake by 112.9%.
• Analyst ratings for Autodesk show a consensus of "Moderate Buy", with price targets ranging from $270 to $400, indicating strong potential for future growth.

Baillie Gifford & Co. decreased its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 778,173 shares of the software company's stock after selling 145,528 shares during the quarter. Baillie Gifford & Co. owned approximately 0.37% of Autodesk worth $203,726,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ADSK. Trilogy Capital Inc. boosted its position in Autodesk by 4.4% in the first quarter. Trilogy Capital Inc. now owns 7,362 shares of the software company's stock valued at $1,927,000 after buying an additional 313 shares in the last quarter. Wilkins Investment Counsel Inc. boosted its position in Autodesk by 1.1% in the first quarter. Wilkins Investment Counsel Inc. now owns 4,410 shares of the software company's stock valued at $1,155,000 after buying an additional 50 shares in the last quarter. Pacer Advisors Inc. boosted its position in Autodesk by 112.9% in the first quarter. Pacer Advisors Inc. now owns 61,550 shares of the software company's stock valued at $16,114,000 after buying an additional 32,636 shares in the last quarter. Assetmark Inc. boosted its position in Autodesk by 5.7% in the first quarter. Assetmark Inc. now owns 22,279 shares of the software company's stock valued at $5,833,000 after buying an additional 1,200 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in Autodesk by 4.2% in the first quarter. Cetera Investment Advisers now owns 66,951 shares of the software company's stock valued at $17,528,000 after buying an additional 2,689 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Performance

NASDAQ:ADSK traded up $1.31 during mid-day trading on Tuesday, reaching $305.78. 395,495 shares of the company's stock were exchanged, compared to its average volume of 1,612,257. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The firm has a market capitalization of $65.44 billion, a PE ratio of 65.49, a price-to-earnings-growth ratio of 2.92 and a beta of 1.44. The business's fifty day simple moving average is $299.46 and its two-hundred day simple moving average is $285.82. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the firm's 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 transaction, the executive vice president directly owned 19,440 shares of the company's stock, valued at $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 9,391 shares of company stock worth $2,909,885 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ADSK has been the topic of a number of research reports. The Goldman Sachs Group upped their target price on shares of Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Mizuho reduced their price objective on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley reaffirmed an "overweight" rating and set a $370.00 price objective (up previously from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $345.00 price target (up from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Citigroup boosted their price target on shares of Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.