DAVENPORT & Co LLC Sells 120,490 Shares of Autodesk, Inc. (NASDAQ:ADSK)

DAVENPORT & Co LLC lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 85.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,836 shares of the software company's stock after selling 120,490 shares during the period. DAVENPORT & Co LLC's holdings in Autodesk were worth $5,193,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management lifted its stake in shares of Autodesk by 2.5% in the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after purchasing an additional 50 shares during the period. Sowell Financial Services LLC bought a new stake in Autodesk during the 1st quarter worth approximately $324,000. Cambridge Investment Research Advisors Inc. raised its stake in Autodesk by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $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 1st 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 during the period. Finally, GAMMA Investing LLC raised its stake in Autodesk by 5.4% during the 1st 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 during the period. Institutional investors own 90.24% of the company's stock.

Autodesk Trading Up 1.7%

ADSK stock traded up $5.42 during mid-day trading on Friday, reaching $315.76. 836,362 shares of the stock traded hands, compared to its average volume of 1,483,374. 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 $67.57 billion, a PE ratio of 67.61, a PEG ratio of 3.05 and a beta of 1.44. The business has a 50-day moving average price of $295.40 and a two-hundred day moving average price of $285.56.

Wall Street Analyst Weigh In

A number of research firms have commented on ADSK. Piper Sandler raised their target price on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Scotiabank decreased their target price on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Royal Bank Of Canada restated an "outperform" rating and set a $345.00 target price (up previously from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Bank of America raised their target price on shares of Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Robert W. Baird lifted their price objective on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $340.45.

Insiders Place Their Bets

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 9,391 shares of company stock worth $2,909,885 in the last quarter. 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.