First Citizens Bank & Trust Co. Sells 1,200 Shares of Autodesk, Inc. (NASDAQ:ADSK)

First Citizens Bank & Trust Co. trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 56.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 933 shares of the software company's stock after selling 1,200 shares during the period. First Citizens Bank & Trust Co.'s holdings in Autodesk were worth $244,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC raised its stake in Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after purchasing an additional 147 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Autodesk in the 4th quarter valued at $13,906,000. Stratos Wealth Partners LTD. increased its stake in shares of Autodesk by 4.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,281 shares of the software company's stock valued at $379,000 after purchasing an additional 59 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Autodesk in the 4th quarter valued at $25,000. Finally, Empowered Funds LLC raised its stake in Autodesk by 35.7% during the fourth quarter. Empowered Funds LLC now owns 6,438 shares of the software company's stock worth $1,903,000 after purchasing an additional 1,695 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Up 0.6%

Shares of NASDAQ ADSK traded up $1.80 during midday trading on Thursday, reaching $298.57. 1,054,278 shares of the stock were exchanged, compared to its average volume of 1,546,522. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $63.89 billion, a P/E ratio of 59.24, a P/E/G ratio of 2.94 and a beta of 1.45. The stock has a 50 day moving average price of $280.10 and a 200-day moving average price of $285.73. Autodesk, Inc. has a 52-week low of $221.04 and a 52-week high of $326.62.

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 2,452 shares of the firm's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Cahill bought 2,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on ADSK shares. Robert W. Baird lifted their target price on Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. dropped their target price on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada reissued an "outperform" rating and issued a $345.00 target price (up previously from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Piper Sandler raised their target price on Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Finally, Citigroup increased their price objective on shares of Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $337.45.

Autodesk 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.