First Hawaiian Bank Sells 5,766 Shares of Autodesk, Inc. $ADSK

Key Points

• First Hawaiian Bank has reduced its stake in Autodesk, Inc. by 43.5%, now holding 7,495 shares worth approximately $1.96 million.
• Institutional investors collectively own 90.24% of Autodesk's stock, indicating strong interest in the company among large funds.
• Recent analyst reports show a positive outlook for Autodesk, with price targets raised by several firms, suggesting a consensus rating of "Moderate Buy" with an average target price of $356.83.

First Hawaiian Bank trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 43.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,495 shares of the software company's stock after selling 5,766 shares during the period. First Hawaiian Bank's holdings in Autodesk were worth $1,962,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management raised its holdings 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 worth $543,000 after buying an additional 50 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of Autodesk in the 1st quarter worth approximately $324,000. Cambridge Investment Research Advisors Inc. raised its holdings 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 worth $3,565,000 after buying an additional 229 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings 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 worth $11,212,000 after buying an additional 9,222 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings 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 worth $1,471,000 after buying an additional 290 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Trading Down 0.8%

Shares of NASDAQ:ADSK traded down $2.56 during midday trading on Tuesday, hitting $318.51. The company had a trading volume of 1,171,822 shares, compared to its average volume of 1,615,172. Autodesk, Inc. has a 12 month low of $232.67 and a 12 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 stock has a market cap of $67.84 billion, a price-to-earnings ratio of 65.94, a PEG ratio of 2.83 and a beta of 1.49. The firm has a fifty day simple moving average of $300.49 and a 200 day simple moving average of $287.03.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of recent research reports. Rosenblatt Securities increased their target price on Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Macquarie lifted their price objective on Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. The Goldman Sachs Group lifted their price objective on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. UBS Group raised their price objective on shares of Autodesk from $370.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Finally, KeyCorp boosted their target price on shares of Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

Insider Activity at Autodesk

In other news, EVP Steven M. Blum sold 22,420 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the completion of the transaction, the executive vice president directly owned 13,099 shares of the company's stock, valued at $4,240,801.25. This represents a 63.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the business'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 value of $1,026,675.00. Following the completion of the sale, the director owned 4,393 shares in the company, valued at $1,427,725. The trade was a 41.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,374 shares of company stock valued at $13,899,261. Insiders own 0.15% of the company's stock.

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.