Banque Pictet & Cie SA Sells 1,161 Shares of Autodesk, Inc. $ADSK

Key Points

• Banque Pictet & Cie SA has reduced its stake in Autodesk, Inc. by selling 1,161 shares, bringing their total holdings to 36,713 shares valued at approximately $11.36 million.
• Several large investors, including SouthState Corp and Costello Asset Management INC, have significantly increased their positions in Autodesk, indicating strong institutional interest in the stock.
• Analysts have raised their price targets for Autodesk, with firms like Wells Fargo & Company increasing theirs from $360 to $375, and the average target price now standing at $356.83.

Banque Pictet & Cie SA trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 36,713 shares of the software company's stock after selling 1,161 shares during the quarter. Banque Pictet & Cie SA's holdings in Autodesk were worth $11,365,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. SouthState Corp boosted its holdings in Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Costello Asset Management INC purchased a new position in Autodesk during the first quarter valued at $26,000. Close Asset Management Ltd bought a new position in shares of Autodesk during the 1st quarter valued at approximately $27,000. Cheviot Value Management LLC bought a new position in shares of Autodesk in the first quarter worth approximately $27,000. Finally, Flaharty Asset Management LLC bought a new position in Autodesk in the 1st quarter worth approximately $27,000. 90.24% of the stock is currently owned by institutional investors.

Insider Transactions at Autodesk

In related news, EVP Rebecca Pearce sold 6,129 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the completion of the transaction, the executive vice president owned 13,311 shares of the company's stock, valued at $4,300,251.66. The trade was a 31.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ruth Ann Keene sold 2,761 shares of Autodesk stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the completion of the transaction, the executive vice president owned 80,255 shares in the company, valued at $25,288,350.50. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,830 shares of company stock valued at $13,123,341. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

ADSK has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. DA Davidson restated a "buy" rating and issued a $375.00 price target on shares of Autodesk in a research report on Friday, August 29th. KeyCorp boosted their price objective on Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Stifel Nicolaus lifted their target price on Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Finally, Loop Capital began coverage on shares of Autodesk in a research note on Monday, July 21st. They set a "hold" rating and a $320.00 price objective for the company. Seventeen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $356.83.

Autodesk Stock Down 1.0%

Shares of NASDAQ ADSK opened at $320.17 on Friday. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $329.09. The firm has a market capitalization of $68.20 billion, a price-to-earnings ratio of 66.29, a PEG ratio of 2.87 and a beta of 1.49. The stock has a 50 day moving average price of $304.95 and a 200 day moving average price of $289.98. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76.

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.

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