Carolina Wealth Advisors LLC Acquires 1,269 Shares of Autodesk, Inc. $ADSK

Key Points

• Carolina Wealth Advisors LLC increased its stake in Autodesk by 40.1% in the second quarter, acquiring an additional 1,269 shares, bringing its total to 4,433 shares valued at approximately $1,372,000.
• Multiple analysts have raised their price targets for Autodesk, with Piper Sandler and Stifel Nicolaus setting their new targets at $373.00 and $375.00, respectively, reflecting a generally positive outlook on the stock.
• Significant insider selling occurred recently, with Executive Vice President Rebecca Pearce selling 6,129 shares at around $323.06 per share, reducing her ownership by 31.53%.

Carolina Wealth Advisors LLC lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 40.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,433 shares of the software company's stock after buying an additional 1,269 shares during the period. Autodesk comprises about 0.7% of Carolina Wealth Advisors LLC's portfolio, making the stock its 27th biggest holding. Carolina Wealth Advisors LLC's holdings in Autodesk were worth $1,372,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ADSK. Beacon Financial Group boosted its stake in shares of Autodesk by 3.0% in the 2nd quarter. Beacon Financial Group now owns 1,130 shares of the software company's stock valued at $350,000 after purchasing an additional 33 shares in the last quarter. Freedom Investment Management Inc. lifted its stake in Autodesk by 2.4% in the 1st quarter. Freedom Investment Management Inc. now owns 1,473 shares of the software company's stock valued at $386,000 after purchasing an additional 34 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its position in Autodesk by 34.9% in the first quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock valued at $37,000 after buying an additional 37 shares in the last quarter. Oregon Pacific Wealth Management LLC grew 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 buying an additional 38 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC increased its holdings in shares of Autodesk by 30.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock worth $46,000 after buying an additional 41 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Trading Down 0.6%

NASDAQ ADSK opened at $318.90 on Friday. The company has a market cap of $67.93 billion, a price-to-earnings ratio of 66.02, a P/E/G ratio of 2.83 and a beta of 1.49. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09. The business has a 50 day moving average price of $307.37 and a 200-day moving average price of $292.86. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91.

Analysts Set New Price Targets

Several research firms recently weighed in on ADSK. Piper Sandler raised their price objective on Autodesk from $361.00 to $373.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Stifel Nicolaus lifted their price target on Autodesk from $350.00 to $375.00 and gave the company a "buy" rating in a research note on Friday, August 29th. DA Davidson restated a "buy" rating and set a $375.00 price target on shares of Autodesk in a report on Friday, August 29th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Autodesk in a report on Saturday, September 27th. Finally, Berenberg Bank set a $370.00 target price on shares of Autodesk in a report on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $359.13.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the transaction, the executive vice president owned 13,311 shares in the company, valued at approximately $4,300,251.66. This represents a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total transaction of $869,991.10. Following the completion of the transaction, the executive vice president directly owned 80,255 shares in the company, valued at $25,288,350.50. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,386 shares of company stock worth $11,433,201. Company insiders own 0.15% of the company's stock.

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.

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