Harrell Investment Partners LLC Makes New Investment in Autodesk, Inc. $ADSK

Key Points

• Harrell Investment Partners LLC has made a new investment in Autodesk by acquiring 5,941 shares valued at around $1.84 million during the 2nd quarter.
• Insider trading activity includes notable sales by executives; EVP Rebecca Pearce sold 6,129 shares while EVP Steven M. Blum sold 22,420 shares, indicating a significant decrease in their stock ownership.
• Currently, Autodesk has received positive attention from analysts, with several firms raising their price targets, reflecting a consensus rating of "Moderate Buy" and an average price target of $356.83.

Harrell Investment Partners LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,941 shares of the software company's stock, valued at approximately $1,839,000.

Several other hedge funds have also recently bought and sold shares of the stock. SouthState Corp raised its holdings in shares of 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 purchasing an additional 80 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $26,000. Close Asset Management Ltd acquired a new stake in shares of Autodesk in the first quarter valued at approximately $27,000. Cheviot Value Management LLC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $27,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 6,129 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president owned 13,311 shares of the company's stock, valued at approximately $4,300,251.66. The trade was a 31.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven M. Blum sold 22,420 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 13,099 shares of the company's stock, valued at approximately $4,240,801.25. The trade was a 63.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 40,830 shares of company stock worth $13,123,341. Insiders own 0.15% of the company's stock.

Autodesk Trading Down 0.4%

Shares of Autodesk stock opened at $323.52 on Thursday. The firm has a 50-day moving average of $304.39 and a 200-day moving average of $289.48. The stock has a market cap of $68.91 billion, a PE ratio of 66.98, a PEG ratio of 2.88 and a beta of 1.49. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $329.09. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ADSK shares. UBS Group lifted their price objective on shares of Autodesk from $370.00 to $385.00 and gave the company a "buy" rating in a report on Friday, August 29th. Wells Fargo & Company lifted their price objective on shares of Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Morgan Stanley lifted their price objective on shares of Autodesk from $370.00 to $385.00 and gave the company an "overweight" rating in a report on Sunday, August 31st. Loop Capital assumed coverage on shares of Autodesk in a research note on Monday, July 21st. They issued a "hold" rating and a $320.00 target price for the company. Finally, Oppenheimer raised their target price on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Autodesk currently has an average rating of "Moderate Buy" and a consensus price target of $356.83.

Autodesk Company Profile

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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