Bridges Investment Management Inc. Has $2.42 Million Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Bridges Investment Management Inc. cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 31.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,242 shares of the software company's stock after selling 4,259 shares during the quarter. Bridges Investment Management Inc.'s holdings in Autodesk were worth $2,420,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Spire Wealth Management raised its stake in shares of Autodesk by 2.5% in the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after purchasing an additional 50 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Autodesk in the first quarter valued at about $324,000. Cambridge Investment Research Advisors Inc. increased its stake in Autodesk by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock valued at $3,565,000 after acquiring an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Autodesk by 27.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after acquiring an additional 9,222 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Autodesk by 5.4% during the first quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after acquiring an additional 290 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the transaction, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. The trade was a 14.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 9,391 shares of company stock worth $2,909,885. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a report on Friday, May 23rd. Mizuho reduced their target price on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Berenberg Bank raised Autodesk from a "hold" rating to a "buy" rating and raised their price target for the company from $325.00 to $365.00 in a report on Friday, June 27th. Piper Sandler lifted 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, Barclays lifted their price objective on Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and a consensus price target of $343.64.

Autodesk Trading Down 6.9%

ADSK traded down $21.16 during midday trading on Thursday, reaching $286.11. 4,697,653 shares of the company were exchanged, compared to its average volume of 1,499,536. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The stock has a market capitalization of $61.23 billion, a P/E ratio of 61.27, a PEG ratio of 3.03 and a beta of 1.44. The stock's 50-day simple moving average is $297.78 and its 200 day simple moving average is $286.03.

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.