Greenleaf Trust Sells 6,679 Shares of Autodesk, Inc. $ADSK

Key Points

• Greenleaf Trust reduced its stake in Autodesk by 30.6% in the second quarter, now holding 15,159 shares valued at approximately $4.69 million.
• Analysts have raised their price targets for Autodesk, with Mizuho setting a new target of $375, indicating strong expectations for the company's future performance.
• Insiders sold a total of 37,720 shares of Autodesk stock worth over $12 million in the last quarter, suggesting a significant shift in their holdings.

Greenleaf Trust reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 30.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,159 shares of the software company's stock after selling 6,679 shares during the quarter. Greenleaf Trust's holdings in Autodesk were worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital Investment Advisors LLC purchased a new stake in shares of Autodesk during the 2nd quarter valued at $485,000. HB Wealth Management LLC increased its stake in Autodesk by 1.1% in the second quarter. HB Wealth Management LLC now owns 6,865 shares of the software company's stock valued at $2,125,000 after acquiring an additional 73 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its position in Autodesk by 8.7% during the second quarter. Moss Adams Wealth Advisors LLC now owns 4,200 shares of the software company's stock valued at $1,300,000 after purchasing an additional 335 shares in the last quarter. GC Wealth Management RIA LLC bought a new stake in Autodesk during the second quarter worth about $735,000. Finally, Genesis Private Wealth LLC purchased a new position in shares of Autodesk in the 2nd quarter worth about $249,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Trading Down 0.3%

Shares of ADSK opened at $322.03 on Tuesday. The stock has a market capitalization of $68.59 billion, a P/E ratio of 66.67, a PEG ratio of 2.86 and a beta of 1.49. 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 firm has a fifty day simple moving average of $306.00 and a two-hundred day simple moving average of $291.52.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ADSK. Mizuho raised their price objective on Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Rosenblatt Securities increased their price target on shares of Autodesk from $345.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Oppenheimer boosted their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Piper Sandler upped their price objective on shares of Autodesk from $361.00 to $373.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Finally, Berenberg Bank set a $370.00 target price on shares of Autodesk in a research report on Monday, September 1st. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and a consensus target price of $356.83.

Insiders Place Their Bets

In other Autodesk news, EVP Steven M. Blum sold 22,420 shares of the company's 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 completion of the transaction, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of Autodesk stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $323.06, for a total value of $1,980,034.74. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 37,720 shares of company stock worth $12,159,241 in the last quarter. 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.

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