Belpointe Asset Management LLC Invests $974,000 in Autodesk, Inc. $ADSK

Key Points

• Belpointe Asset Management LLC invested approximately $974,000 in Autodesk, purchasing 3,721 shares of the stock in the 1st quarter.
• Recent analyst reports have increased price targets for Autodesk, with Macquarie setting it at $380.00, indicating strong confidence in the company's performance.
• Insider trading activity shows significant sales, with Director Ayanna Howard and EVP Steven M. Blum selling thousands of shares, representing major decreases in their respective ownership stakes.

Belpointe Asset Management LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,721 shares of the software company's stock, valued at approximately $974,000.

Other large investors have also made changes to their positions in the company. Spire Wealth Management raised its stake in shares of Autodesk by 2.5% during the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after buying an additional 50 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Autodesk during the 1st quarter worth approximately $324,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Autodesk by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after buying an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Autodesk by 27.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after buying an additional 9,222 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Autodesk by 5.4% during the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after buying an additional 290 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Performance

Shares of Autodesk stock opened at $324.52 on Friday. The business has a 50-day moving average of $300.31 and a 200 day moving average of $286.42. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $329.09. The stock has a market capitalization of $69.12 billion, a price-to-earnings ratio of 67.19, a price-to-earnings-growth ratio of 2.87 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76.

Wall Street Analyst Weigh In

Several research analysts recently commented on ADSK shares. Macquarie increased their price objective on Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. The Goldman Sachs Group increased their price objective on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Citigroup upped their target price on Autodesk from $376.00 to $393.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Wells Fargo & Company upped their target price on Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Finally, Robert W. Baird increased their price target on Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $356.83.

Insider Transactions at Autodesk

In related news, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the transaction, the director directly owned 4,393 shares in the company, valued at $1,427,725. This trade represents a 41.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven M. Blum sold 22,420 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $323.75, for a total value of $7,258,475.00. Following the transaction, the executive vice president owned 13,099 shares of the company's stock, valued at $4,240,801.25. This trade represents a 63.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,860 shares of company stock valued at $14,045,061. Insiders own 0.15% of the company's stock.

Autodesk 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.