Focus Partners Advisor Solutions LLC Makes New $639,000 Investment in Autodesk, Inc. $ADSK

Key Points

• Focus Partners Advisor Solutions LLC acquired a new stake in Autodesk, purchasing 2,441 shares valued at approximately $639,000 during the first quarter.
• Analyst ratings for Autodesk have seen upward revisions, with Bank of America and Citigroup raising their price targets, indicating a consensus rating of "Moderate Buy."
• Insider selling activity is notable, with executives selling over 21,000 shares in the past three months, reflecting a significant decrease in their positions.

Focus Partners Advisor Solutions LLC acquired a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,441 shares of the software company's stock, valued at approximately $639,000.

Several other hedge funds also recently made changes to their positions in the business. One Wealth Capital Management LLC grew its stake in shares of Autodesk by 20.3% in the 1st quarter. One Wealth Capital Management LLC now owns 1,074 shares of the software company's stock worth $281,000 after purchasing an additional 181 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Autodesk by 48.8% during the first quarter. Royal Bank of Canada now owns 1,155,233 shares of the software company's stock worth $302,442,000 after purchasing an additional 378,801 shares during the period. Quarry LP boosted its holdings in shares of Autodesk by 1,065.9% during the first quarter. Quarry LP now owns 2,670 shares of the software company's stock worth $699,000 after purchasing an additional 2,441 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Autodesk by 7.1% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,178 shares of the software company's stock worth $308,000 after purchasing an additional 78 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Autodesk by 1,069.8% during the first quarter. Panagora Asset Management Inc. now owns 39,070 shares of the software company's stock worth $10,229,000 after purchasing an additional 35,730 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Activity

In other news, EVP Rebecca Pearce sold 6,129 shares of Autodesk 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 transaction, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of Autodesk 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 transaction, the director directly owned 4,393 shares in the company, valued at approximately $1,427,725. This represents a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,440 shares of company stock valued at $6,786,586 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADSK. Berenberg Bank set a $370.00 price target on shares of Autodesk in a report on Monday, September 1st. UBS Group raised their price target on shares of Autodesk from $370.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Bank of America raised their price target on shares of Autodesk from $330.00 to $360.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Wells Fargo & Company raised their price target on shares of Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Finally, Mizuho raised their price target on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Seventeen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and a consensus price target of $356.83.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded up $6.44 during trading on Friday, reaching $326.37. The stock had a trading volume of 1,632,149 shares, compared to its average volume of 1,789,394. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.85. The firm has a market capitalization of $69.52 billion, a price-to-earnings ratio of 67.57, a P/E/G ratio of 2.89 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $299.25 and a two-hundred day simple moving average of $285.36.

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.