GC Wealth Management RIA LLC Acquires New Position in Autodesk, Inc. $ADSK

Key Points

• GC Wealth Management RIA LLC has acquired a new stake in Autodesk, Inc. valued at approximately $735,000, purchasing 2,373 shares in the 2nd quarter.
• Several hedge funds, including Genesis Private Wealth LLC and Avior Wealth Management LLC, have increased their positions in Autodesk, contributing to 90.24% of the stock being held by institutional investors.
• Analysts have raised their price targets for Autodesk, with ratings ranging from "buy" to "outperform," and a consensus price target now set at $356.83.

GC Wealth Management RIA LLC acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,373 shares of the software company's stock, valued at approximately $735,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Genesis Private Wealth LLC purchased a new position in shares of Autodesk in the 2nd quarter valued at approximately $249,000. Avior Wealth Management LLC raised its position in shares of Autodesk by 40.3% in the 2nd quarter. Avior Wealth Management LLC now owns 4,448 shares of the software company's stock valued at $1,377,000 after purchasing an additional 1,278 shares during the last quarter. Hengehold Capital Management LLC raised its position in shares of Autodesk by 22.7% in the 2nd quarter. Hengehold Capital Management LLC now owns 1,773 shares of the software company's stock valued at $549,000 after purchasing an additional 328 shares during the last quarter. LVW Advisors LLC purchased a new position in shares of Autodesk in the 2nd quarter valued at approximately $294,000. Finally, Diversified Enterprises LLC purchased a new position in shares of Autodesk in the 2nd quarter valued at approximately $235,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 13,099 shares in the company, valued at $4,240,801.25. This trade represents a 63.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of the 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 in the company, valued at $4,300,251.66. This trade represents a 31.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,720 shares of company stock worth $12,159,241. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Autodesk from $370.00 to $385.00 and gave the stock an "overweight" rating in a report on Sunday, August 31st. Berenberg Bank set a $370.00 price target on shares of Autodesk in a report on Monday, September 1st. Citigroup increased their price target on shares of Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Bank of America increased 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. Finally, Oppenheimer increased 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 equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $356.83.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $317.67 on Wednesday. The stock has a market capitalization of $67.66 billion, a price-to-earnings ratio of 65.77, a PEG ratio of 2.85 and a beta of 1.49. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $329.09. The firm's 50 day simple moving average is $306.36 and its 200-day simple moving average is $291.70. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76.

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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