Empowered Funds LLC Raises Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• Empowered Funds LLC increased its stake in Autodesk, Inc. by 210.2%, acquiring an additional 13,531 shares in the first quarter, bringing its total holdings to 19,969 shares valued at approximately $5.2 million.
• Research analysts are optimistic, with multiple firms raising their target prices for Autodesk stock, resulting in an average target price of $356.83 and numerous "Buy" ratings.
• Insider trading activity shows a significant sell-off, with executives selling a combined total of 43,860 shares valued at over $14 million in the last 90 days.

Empowered Funds LLC boosted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 210.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,969 shares of the software company's stock after purchasing an additional 13,531 shares during the period. Empowered Funds LLC's holdings in Autodesk were worth $5,228,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management grew its position 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 valued at $543,000 after buying an additional 50 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Autodesk in the 1st quarter valued at about $324,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Autodesk by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock valued at $3,565,000 after buying an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Autodesk by 27.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock valued at $11,212,000 after buying an additional 9,222 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Autodesk by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock valued at $1,471,000 after buying an additional 290 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Down 1.7%

ADSK stock traded down $5.47 during trading on Friday, reaching $319.05. 1,077,474 shares of the stock were exchanged, compared to its average volume of 1,681,436. The firm's 50 day moving average is $300.38 and its 200 day moving average is $286.67. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $329.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The firm has a market cap of $67.96 billion, a P/E ratio of 66.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.49.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BMO Capital Markets upped their price target on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research report on Friday, May 23rd. Morgan Stanley upped their target price on Autodesk from $370.00 to $385.00 and gave the company an "overweight" rating in a research report on Sunday, August 31st. DA Davidson restated a "buy" rating and set a $375.00 target price on shares of Autodesk in a research report on Friday, August 29th. Wells Fargo & Company upped their target price on Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Finally, Loop Capital started coverage on Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 target price on the stock. 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 an average price target of $356.83.

Insider Buying and Selling

In other news, Director Ayanna Howard sold 3,159 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $325.00, for a total value of $1,026,675.00. Following the completion of the sale, the director directly owned 4,393 shares of the company's stock, valued at $1,427,725. This represents a 41.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the completion of the sale, the executive vice president directly owned 13,099 shares of the company's stock, valued at approximately $4,240,801.25. This trade represents a 63.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,860 shares of company stock valued at $14,045,061. 0.15% of the stock is owned by company insiders.

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.