Capital Investment Advisors LLC Takes Position in Autodesk, Inc. $ADSK

Key Points

• Capital Investment Advisors LLC has acquired a new stake in Autodesk, Inc., purchasing 1,567 shares valued at approximately $485,000 in the second quarter of the year.
• Insider selling has been notable, with two executives selling a combined total of nearly $2.85 million worth of Autodesk shares in recent transactions.
• Analysts are generally optimistic about Autodesk, with various firms recently increasing their price targets, indicating a consensus target price of $359.13 and an overall rating of "Moderate Buy."

Capital Investment Advisors LLC acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,567 shares of the software company's stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cheviot Value Management LLC purchased a new stake in Autodesk during the first quarter valued at about $27,000. SouthState Corp grew its position in Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after acquiring an additional 80 shares during the period. Livelsberger Financial Advisory purchased a new stake in Autodesk during the second quarter valued at about $31,000. Costello Asset Management INC purchased a new stake in Autodesk during the first quarter valued at about $26,000. Finally, Close Asset Management Ltd purchased a new stake in Autodesk during the first quarter valued at about $27,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Trading Up 1.6%

Shares of ADSK opened at $320.91 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $329.09. The stock's 50-day moving average is $307.06 and its two-hundred day moving average is $292.28. The stock has a market cap of $68.35 billion, a PE ratio of 66.44, a P/E/G ratio of 2.80 and a beta of 1.49.

Insiders Place Their Bets

In related news, EVP Ruth Ann Keene sold 2,761 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total value of $869,991.10. Following the transaction, the executive vice president owned 80,255 shares in the company, valued at approximately $25,288,350.50. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rebecca Pearce sold 6,129 shares of the business's stock in a transaction dated Friday, August 29th. The stock was 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 in the company, valued at approximately $4,300,251.66. This trade represents a 31.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,386 shares of company stock worth $11,433,201. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADSK has been the subject of a number of research reports. Piper Sandler boosted their price target on Autodesk from $361.00 to $373.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Macquarie boosted their price target on Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Bank of America boosted their price target on Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Barclays boosted their price target on Autodesk from $355.00 to $385.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Finally, Citigroup boosted their price objective on Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Autodesk currently has an average rating of "Moderate Buy" and a consensus target price of $359.13.

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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