BI Asset Management Fondsmaeglerselskab A S Lowers Position in Autodesk, Inc. $ADSK

Key Points

• BI Asset Management Fondsmaeglerselskab A S has significantly reduced its stake in Autodesk, Inc. by 70.3%, now holding 14,272 shares valued at approximately $3.7 million.
• Several institutional investors have increased their holdings in Autodesk, with notable increases from Financial Network Wealth Advisors LLC and GPS Wealth Strategies Group LLC, reflecting a trend of growing interest in the stock.
• Analysts are optimistic about Autodesk's future, with multiple firms raising their price targets, the highest being $361 from Piper Sandler, indicating general confidence in the company's growth potential.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 70.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,272 shares of the software company's stock after selling 33,730 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Autodesk were worth $3,736,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ADSK. Financial Network Wealth Advisors LLC boosted its stake in Autodesk by 34.9% in the first quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock worth $37,000 after buying an additional 37 shares in the last quarter. Oregon Pacific Wealth Management LLC raised its stake in shares of Autodesk by 4.0% during the first 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 in the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in shares of Autodesk by 30.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock worth $46,000 after acquiring an additional 41 shares during the last quarter. Johnson Financial Group Inc. boosted its stake in shares of Autodesk by 30.2% in the 4th 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. Finally, Sky Investment Group LLC boosted its stake in shares of Autodesk by 0.5% in the 1st quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock valued at $2,183,000 after purchasing an additional 42 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Autodesk Price Performance

Shares of Autodesk stock opened at $288.63 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $61.77 billion, a PE ratio of 61.81, a P/E/G ratio of 2.78 and a beta of 1.46. The business has a 50 day moving average of $298.48 and a 200 day moving average of $285.52. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.62.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADSK. Oppenheimer restated an "outperform" rating and set a $350.00 price target (up from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Loop Capital initiated coverage on Autodesk in a report on Monday, July 21st. They set a "hold" rating and a $320.00 target price for the company. Wells Fargo & Company restated an "overweight" rating and set a $360.00 price target (up from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Piper Sandler boosted their price objective on Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Finally, KeyCorp reissued an "overweight" rating and set a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $342.61.

Insider Buying and Selling

In other 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 completion of the sale, the executive vice president directly owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding ADSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autodesk, Inc. (NASDAQ:ADSK - Free Report).

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.