Davidson Capital Management Inc. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,483 shares of the software company's stock after selling 2,886 shares during the quarter. Davidson Capital Management Inc.'s holdings in Autodesk were worth $2,744,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA acquired a new stake in Autodesk in the 4th quarter worth approximately $13,906,000. Paradigm Asset Management Co. LLC acquired a new stake in Autodesk in the 4th quarter worth approximately $443,000. Alberta Investment Management Corp bought a new position in Autodesk in the 4th quarter worth approximately $2,453,000. RWC Asset Management LLP bought a new position in Autodesk in the 4th quarter worth approximately $4,015,000. Finally, Olympiad Research LP bought a new position in Autodesk in the 4th quarter worth approximately $328,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Autodesk
In other Autodesk news, EVP Rebecca Pearce sold 486 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $300.00, for a total value of $145,800.00. Following the sale, the executive vice president now directly owns 28,345 shares in the company, valued at $8,503,500. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the sale, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,995 shares of company stock worth $816,082 over the last three months. Company insiders own 0.15% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on ADSK shares. Barclays lifted their price target on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price target on Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $350.00 price target (up from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Stifel Nicolaus lifted their price target on Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Citigroup lifted their price target on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and an average target price of $337.45.
Read Our Latest Report on ADSK
Autodesk Stock Performance
Shares of ADSK traded up $2.02 on Friday, reaching $297.21. 2,874,571 shares of the stock traded hands, compared to its average volume of 1,495,100. The firm has a market cap of $63.60 billion, a price-to-earnings ratio of 63.64, a P/E/G ratio of 2.86 and a beta of 1.45. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62. The stock's 50-day moving average price is $286.32 and its 200-day moving average price is $285.51.
Autodesk Profile
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Free Report)
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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