Focus Partners Wealth Sells 65,563 Shares of Autodesk, Inc. $ADSK

Key Points

• Focus Partners Wealth significantly reduced its stake in Autodesk, selling 65,563 shares and now holds 24,208 shares worth approximately $6.31 million.
• Analysts have boosted their price targets for Autodesk, with estimates ranging from $355 to $385, indicating a consensus rating of "Moderate Buy."
• Insider selling has been noted, with two executives, Rebecca Pearce and Ruth Ann Keene, recently selling shares, indicating a 31.53% and 3.33% decrease in their ownership, respectively.

Focus Partners Wealth trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 73.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,208 shares of the software company's stock after selling 65,563 shares during the quarter. Focus Partners Wealth's holdings in Autodesk were worth $6,314,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Flaharty Asset Management LLC bought a new stake in Autodesk during the 1st quarter worth approximately $27,000. Ransom Advisory Ltd bought a new stake in Autodesk during the 1st quarter worth approximately $37,000. Advisory Alpha LLC grew its holdings in Autodesk by 13.3% during the 1st quarter. Advisory Alpha LLC now owns 3,138 shares of the software company's stock worth $822,000 after acquiring an additional 368 shares during the last quarter. SCS Capital Management LLC bought a new stake in Autodesk during the 1st quarter worth approximately $518,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Autodesk by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock valued at $904,326,000 after purchasing an additional 400,514 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Autodesk from $345.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Macquarie upped their price objective on shares of Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Rosenblatt Securities upped their price objective on shares of Autodesk from $345.00 to $355.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Loop Capital assumed coverage on shares of Autodesk in a research note on Monday, July 21st. They issued a "hold" rating and a $320.00 price objective on the stock. Finally, Barclays upped their price objective on shares of Autodesk from $355.00 to $385.00 and gave the company 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 assigned a Hold rating to the company. According to data from MarketBeat, Autodesk has an average rating of "Moderate Buy" and a consensus target price of $356.83.

Autodesk Stock Performance

ADSK opened at $319.05 on Monday. 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 company's fifty day moving average price is $300.38 and its two-hundred day moving average price is $286.70. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $329.09. The company has a market cap of $67.96 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 2.83 and a beta of 1.49.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the transaction, the executive vice president owned 13,311 shares in the company, valued at approximately $4,300,251.66. This represents a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total transaction of $869,991.10. Following the completion of the sale, the executive vice president owned 80,255 shares of the company's stock, valued at approximately $25,288,350.50. This represents a 3.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,860 shares of company stock worth $14,045,061. Corporate 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.

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