Great Lakes Advisors LLC Sells 7,455 Shares of Autodesk, Inc. $ADSK

Key Points

• Great Lakes Advisors LLC decreased its stake in Autodesk, Inc. by 38.6%, selling 7,455 shares during the first quarter, which left them with 11,854 shares valued at approximately $3.1 million.
• Insider sales included EVP Ruth Ann Keene selling 2,761 shares for about $869,991 and Director Ayanna Howard selling 3,159 shares for approximately $1.03 million, reflecting significant reductions in their holdings.
• Analysts are optimistic about Autodesk's stock, with multiple firms raising their price targets, including Mizuho's increase to $375 and Barclays' to $385, signaling a consensus rating of "Moderate Buy".

Great Lakes Advisors LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 38.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,854 shares of the software company's stock after selling 7,455 shares during the quarter. Great Lakes Advisors LLC's holdings in Autodesk were worth $3,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Spire Wealth Management increased its position in Autodesk by 2.5% in the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after buying an additional 50 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in Autodesk in the 1st quarter worth approximately $324,000. Cambridge Investment Research Advisors Inc. increased its holdings in Autodesk by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after acquiring an additional 229 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Autodesk by 27.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after acquiring an additional 9,222 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Autodesk by 5.4% in the first quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after purchasing an additional 290 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other news, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the completion of the transaction, the executive vice president directly owned 80,255 shares in the company, valued at approximately $25,288,350.50. This represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $1,427,725. This trade represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,860 shares of company stock worth $14,045,061. 0.15% of the stock is owned by corporate insiders.

Autodesk Trading Down 0.4%

Shares of Autodesk stock opened at $323.80 on Thursday. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $329.09. 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 business has a 50-day moving average price of $300.14 and a 200-day moving average price of $286.15. The firm has a market cap of $68.97 billion, a price-to-earnings ratio of 67.04, a PEG ratio of 2.88 and a beta of 1.49.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho raised their price objective on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Barclays raised their price target on Autodesk from $355.00 to $385.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Berenberg Bank set a $370.00 price objective on Autodesk in a research report on Monday, September 1st. Royal Bank Of Canada increased their target price on Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, Robert W. Baird lifted their target price on Autodesk from $345.00 to $363.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Autodesk currently has a consensus rating of "Moderate Buy" and an average 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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