Fulton Bank N.A. Buys New Position in Autodesk, Inc. $ADSK

Key Points

• Fulton Bank N.A. has invested approximately $240,000 in Autodesk, purchasing 776 shares in the second quarter.
• Several institutional investors, including Vanguard Group Inc. and T. Rowe Price Investment Management Inc., have also increased their stakes in Autodesk, contributing to 90.24% of the company's stock being owned by institutional investors.
• Analysts have recently upgraded Autodesk's stock, with the majority rating it as a "Moderate Buy" and raising price targets for the stock significantly, indicating positive market sentiment.

Fulton Bank N.A. purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 776 shares of the software company's stock, valued at approximately $240,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp lifted its holdings in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after buying an additional 80 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Autodesk during the 1st quarter valued at approximately $26,000. Close Asset Management Ltd acquired a new position in Autodesk in the first quarter worth $27,000. Cheviot Value Management LLC acquired a new position in Autodesk in the first quarter worth $27,000. Finally, Flaharty Asset Management LLC bought a new stake in Autodesk during the first quarter valued at $27,000. 90.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ADSK shares. Oppenheimer raised their price target on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Piper Sandler raised their target price on shares of Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Robert W. Baird raised their target price on shares of Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Wall Street Zen raised shares of Autodesk from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Macquarie raised their target price on shares of Autodesk from $360.00 to $380.00 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 issued a Hold rating to the stock. According to MarketBeat.com, Autodesk has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

Autodesk Stock Performance

ADSK traded down $0.81 during trading hours on Tuesday, hitting $323.58. The company's stock had a trading volume of 439,150 shares, compared to its average volume of 1,620,984. The company has a 50-day simple moving average of $302.99 and a 200 day simple moving average of $289.00. 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 firm has a market capitalization of $68.92 billion, a PE ratio of 66.95, a PEG ratio of 2.86 and a beta of 1.49. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09.

Insiders Place Their Bets

In related news, 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 value of $869,991.10. Following the completion of the transaction, the executive vice president owned 80,255 shares in the company, valued at $25,288,350.50. This represents a 3.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Rebecca Pearce sold 6,129 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 13,311 shares of the company's stock, valued at $4,300,251.66. This represents a 31.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,830 shares of company stock valued at $13,123,341 over the last three months. 0.15% of the stock is currently owned by company insiders.

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.