CHICAGO TRUST Co NA Buys 1,763 Shares of Autodesk, Inc. $ADSK

Key Points

• CHICAGO TRUST Co NA increased its stake in Autodesk by 55.1%, acquiring an additional 1,763 shares during the second quarter, bringing its total holdings to 4,961 shares valued at approximately $1.54 million.
• Multiple hedge funds, including SouthState Corp and Close Asset Management, have significantly increased their positions in Autodesk, with institutional investors now owning 90.24% of the stock.
• Analyst ratings for Autodesk are overwhelmingly positive, with 17 analysts rating it a "Buy" and price targets raised, suggesting strong expectations for the stock's performance.

CHICAGO TRUST Co NA grew its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 55.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,961 shares of the software company's stock after acquiring an additional 1,763 shares during the quarter. CHICAGO TRUST Co NA's holdings in Autodesk were worth $1,536,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SouthState Corp boosted its holdings in Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Costello Asset Management INC bought a new stake in Autodesk in the first quarter worth $26,000. Close Asset Management Ltd purchased a new position in shares of Autodesk in the first quarter worth $27,000. Cheviot Value Management LLC purchased a new position in shares of Autodesk in the first quarter worth $27,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Autodesk in the first quarter worth $27,000. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

NASDAQ:ADSK opened at $324.39 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a 12-month low of $232.67 and a 12-month high of $329.09. The stock has a 50-day moving average price of $302.99 and a 200 day moving average price of $289.00. The stock has a market capitalization of $69.10 billion, a P/E ratio of 67.16, a P/E/G ratio of 2.86 and a beta of 1.49.

Insiders Place Their Bets

In related news, Director Ayanna Howard sold 3,159 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the sale, the director owned 4,393 shares in the company, valued at approximately $1,427,725. This trade represents a 41.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of the 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 sale, the executive vice president owned 80,255 shares of the company's stock, valued at $25,288,350.50. This represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,830 shares of company stock worth $13,123,341. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ADSK. Wells Fargo & Company boosted their price target on Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. UBS Group boosted their price target on Autodesk from $370.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Macquarie boosted their price target on Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Royal Bank Of Canada boosted their price target on Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Robert W. Baird boosted their price target on Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $356.83.

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.

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