Douglas Lane & Associates LLC Sells 4,673 Shares of Autodesk, Inc. $ADSK

Key Points

• Douglas Lane & Associates LLC reduced its stake in Autodesk, Inc. by 4.3% during the second quarter, selling 4,673 shares, while maintaining a worth of approximately $32.14 million.
• Several institutional investors, including Vanguard Group and T. Rowe Price, have recently increased their positions in Autodesk, with T. Rowe Price raising its holdings by 44.1% in the first quarter.
• Wall Street analysts remain optimistic about Autodesk's future, with seventeen analysts giving a "Buy" rating and price targets generally augmented to between $360.00 and $393.00.

Douglas Lane & Associates LLC lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 4.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,811 shares of the software company's stock after selling 4,673 shares during the quarter. Douglas Lane & Associates LLC's holdings in Autodesk were worth $32,137,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after purchasing an additional 397,458 shares during the period. Ninety One UK Ltd lifted its holdings in shares of Autodesk by 1.6% in the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after buying an additional 79,900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Autodesk by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after buying an additional 400,514 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Autodesk by 44.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock worth $868,736,000 after buying an additional 1,016,187 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Autodesk by 28.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock worth $902,597,000 after buying an additional 667,763 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADSK shares. Macquarie increased their price target on shares of Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Robert W. Baird increased their price target on shares of Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Citigroup increased their price target on shares of Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. KeyCorp increased their price target on shares of Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Finally, Barclays increased their price target on shares of Autodesk from $355.00 to $385.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and an average price target of $356.83.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the sale, the executive vice president directly owned 13,311 shares of the company's stock, valued at $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were 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 directly owned 4,393 shares in the company, valued at $1,427,725. This represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,860 shares of company stock valued at $14,045,061. Company insiders own 0.15% of the company's stock.

Autodesk Trading Down 1.7%

Shares of ADSK opened at $319.05 on Friday. The firm's 50 day simple moving average is $300.38 and its 200 day simple moving average is $286.67. The company has a market capitalization of $67.96 billion, a P/E ratio of 66.06, a P/E/G ratio of 2.88 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $329.09.

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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