Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Autodesk by 4.4%, acquiring an additional 58,865 shares, bringing their total ownership to approximately 1.4 million shares valued at $367.7 million.
• Institutional investors now hold 90.24% of Autodesk's stock, indicating significant investor confidence in the company.
• Research analysts showed positive sentiment, with multiple firms raising their price targets for Autodesk, including Wells Fargo and BMO Capital Markets, highlighting a potential uptrend for the stock.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,404,336 shares of the software company's stock after purchasing an additional 58,865 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.66% of Autodesk worth $367,655,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADSK. Cheviot Value Management LLC purchased a new position in shares of Autodesk in the first quarter valued at approximately $27,000. Investment Management Corp VA ADV purchased a new position in shares of Autodesk in the fourth quarter valued at approximately $29,000. Costello Asset Management INC purchased a new position in shares of Autodesk in the first quarter valued at approximately $26,000. Close Asset Management Ltd purchased a new position in shares of Autodesk in the first quarter valued at approximately $27,000. Finally, Abound Financial LLC purchased a new position in shares of Autodesk in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADSK. Oppenheimer restated an "outperform" rating and issued a $350.00 target price (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Barclays raised their target price on Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. KeyCorp restated an "overweight" rating and issued a $350.00 target price (up previously from $323.00) on shares of Autodesk in a research report on Friday, May 23rd. Robert W. Baird increased their price target on Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Berenberg Bank raised Autodesk from a "hold" rating to a "buy" rating and increased their price target for the company from $325.00 to $365.00 in a report on Friday, June 27th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Autodesk currently has an average rating of "Moderate Buy" and an average price target of $342.61.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the company's 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 sale, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 9,391 shares of company stock worth $2,909,885. Company insiders own 0.15% of the company's stock.

Autodesk Trading Down 0.6%

Shares of NASDAQ ADSK traded down $1.59 during trading on Tuesday, reaching $283.03. The stock had a trading volume of 2,311,923 shares, compared to its average volume of 1,604,385. The business's 50-day moving average price is $300.03 and its 200-day moving average price is $286.20. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $326.62. The company has a market cap of $60.57 billion, a P/E ratio of 60.61, a PEG ratio of 2.80 and a beta of 1.46. 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 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.