BDF Gestion Sells 1,808 Shares of Autodesk, Inc. $ADSK

Key Points

• BDF Gestion reduced its stake in Autodesk, Inc. by 9.8% in the second quarter, now owning 16,588 shares valued at approximately $5.13 million.
• Equities analysts are generally optimistic about Autodesk, with seventeen analysts rating it a "buy" and an average price target of $356.83, boosted by several upgrades from major firms like Goldman Sachs and Barclays.
• Insider transactions indicate a significant sell-off, with EVP Steven M. Blum and Director Ayanna Howard selling a combined total of over $8 million in shares recently.

BDF Gestion cut its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 9.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,588 shares of the software company's stock after selling 1,808 shares during the quarter. BDF Gestion's holdings in Autodesk were worth $5,135,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. SouthState Corp grew its stake in Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Costello Asset Management INC bought a new position in Autodesk in the first quarter valued at approximately $26,000. Close Asset Management Ltd bought a new position in Autodesk in the first quarter valued at approximately $27,000. Cheviot Value Management LLC bought a new position in Autodesk in the first quarter valued at approximately $27,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $27,000. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. KeyCorp raised their price objective on Autodesk from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Berenberg Bank set a $370.00 price objective on Autodesk in a research report on Monday, September 1st. Morgan Stanley raised their price objective on Autodesk from $370.00 to $385.00 and gave the company an "overweight" rating in a research report on Sunday, August 31st. Stifel Nicolaus raised their price objective on Autodesk from $350.00 to $375.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Finally, Macquarie raised their price objective on Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Seventeen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $356.83.

Insider Buying and Selling

In other Autodesk news, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the transaction, the executive vice president owned 80,255 shares in the company, valued at $25,288,350.50. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $325.00, for a total value of $1,026,675.00. Following the transaction, the director owned 4,393 shares in the company, valued at approximately $1,427,725. This trade represents a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,830 shares of company stock worth $13,123,341 in the last quarter. Insiders own 0.15% of the company's stock.

Autodesk Stock Performance

NASDAQ:ADSK traded down $0.82 during mid-day trading on Tuesday, hitting $323.58. 527,820 shares of the stock were exchanged, compared to its average volume of 1,621,448. The stock has a market capitalization of $68.92 billion, a price-to-earnings ratio of 67.03, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The firm's 50-day simple moving average is $302.99 and its 200 day simple moving average is $289.00. 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, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09.

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.