GK Wealth Management LLC Makes New Investment in Autodesk, Inc. $ADSK

Key Points

• GK Wealth Management LLC purchased 1,123 shares of Autodesk, Inc. valued at approximately $348,000 during the second quarter, reflecting growing institutional interest in the company.
• Several institutional investors, including SouthState Corp and Costello Asset Management, significantly increased their stakes in Autodesk, suggesting a bullish sentiment among large investors.
• Wall Street analysts are optimistic about Autodesk's future, with numerous firms raising their price targets, indicating a consensus rating of "Moderate Buy" and an average price target of $356.83.

GK Wealth Management LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,123 shares of the software company's stock, valued at approximately $348,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp increased its stake in Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Autodesk in the 1st quarter valued at $26,000. Close Asset Management Ltd bought a new position in shares of Autodesk in the 1st quarter valued at $27,000. Cheviot Value Management LLC acquired a new position in shares of Autodesk during the 1st quarter worth $27,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Autodesk during the 1st quarter worth $27,000. Institutional investors own 90.24% of the company's stock.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $319.05 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09. The firm has a market cap of $67.96 billion, a PE ratio of 66.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.49. The firm's fifty day moving average is $300.38 and its 200-day moving average is $286.70.

Insider Buying and Selling

In related news, Director Ayanna Howard sold 3,159 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $325.00, for a total value of $1,026,675.00. Following the sale, the director directly owned 4,393 shares in the company, valued at $1,427,725. This represents a 41.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 43,860 shares of company stock valued at $14,045,061 over the last 90 days. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADSK. Royal Bank Of Canada lifted their target price on Autodesk from $345.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Morgan Stanley lifted their price target on shares of Autodesk from $370.00 to $385.00 and gave the company an "overweight" rating in a report on Sunday, August 31st. KeyCorp raised their target price on shares of Autodesk from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Wells Fargo & Company boosted their target price on shares of Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Finally, Citigroup increased their price target on Autodesk from $376.00 to $393.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

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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