Autodesk, Inc. (NASDAQ:ADSK) Position Lowered by Equitable Trust Co.

Key Points

• Equitable Trust Co. significantly reduced its stake in Autodesk, Inc. by 48.4% during the first quarter, now holding 1,906 shares valued at approximately $499,000.
• Institutional investors hold about 90.24% of Autodesk's stock, with several firms making new purchases or increasing their stakes in recent quarters.
• Analyst ratings for Autodesk remain positive, with many brokerages raising their price targets and giving the stock a consensus rating of "Moderate Buy".

Equitable Trust Co. lessened its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 48.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,906 shares of the software company's stock after selling 1,785 shares during the period. Equitable Trust Co.'s holdings in Autodesk were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ninety One UK Ltd increased its position in Autodesk by 1.6% in the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock valued at $1,347,400,000 after acquiring an additional 79,900 shares during the period. Geode Capital Management LLC increased its position in Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock valued at $1,391,145,000 after acquiring an additional 45,623 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Autodesk by 28.0% in the 4th 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 valued at $902,597,000 after acquiring an additional 667,763 shares during the period. Massachusetts Financial Services Co. MA increased its position in Autodesk by 4.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after acquiring an additional 124,948 shares during the period. Finally, Northern Trust Corp increased its position in Autodesk by 20.6% in the 4th quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock valued at $727,933,000 after acquiring an additional 420,838 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Trading Up 0.6%

Shares of ADSK stock traded up $1.73 on Wednesday, reaching $308.34. 130,282 shares of the stock were exchanged, compared to its average volume of 1,607,015. The stock has a market cap of $65.98 billion, a P/E ratio of 66.02, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $299.68 and a two-hundred day moving average of $285.97. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year high of $326.62.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADSK. Oppenheimer restated an "outperform" rating and issued a $350.00 price target (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Citigroup lifted their price objective on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Barclays lifted their price objective on Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Berenberg Bank raised Autodesk from a "hold" rating to a "buy" rating and lifted their price objective for the company from $325.00 to $365.00 in a report on Friday, June 27th. Finally, Loop Capital started coverage on Autodesk in a report on Monday, July 21st. They issued a "hold" rating and a $320.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Autodesk has an average rating of "Moderate Buy" and an average target price of $342.61.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the sale, the executive vice president directly owned 19,440 shares in the company, valued at $6,123,600. This represents a 14.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 9,391 shares of company stock worth $2,909,885. Corporate insiders own 0.15% of the company's stock.

Autodesk Company 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.