Integrated Wealth Concepts LLC Has $1.21 Million Stock Position in Autodesk, Inc. $ADSK

Key Points

• Integrated Wealth Concepts LLC reduced its stake in Autodesk by 18.9% during the first quarter, now holding shares worth $1.21 million.
• Several institutional investors have increased their positions in Autodesk, with SouthState Corp boosting its stake by 500% to own 96 shares valued at $25,000.
• Analysts have shown strong support for Autodesk, with multiple firms raising their price targets, including Citigroup, which increased its target from $376 to $393 while maintaining a "buy" rating.

Integrated Wealth Concepts LLC lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 18.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,639 shares of the software company's stock after selling 1,084 shares during the period. Integrated Wealth Concepts LLC's holdings in Autodesk were worth $1,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADSK. SouthState Corp increased its position in shares of Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of Autodesk during the first quarter worth about $26,000. Close Asset Management Ltd bought a new stake in shares of Autodesk during the first quarter worth about $27,000. Cheviot Value Management LLC bought a new stake in shares of Autodesk during the first quarter worth about $27,000. Finally, Investment Management Corp VA ADV bought a new stake in shares of Autodesk during the fourth quarter worth about $29,000. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the sale, the executive vice president directly owned 80,255 shares in the company, valued at $25,288,350.50. This represents a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the sale, the director 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,860 shares of company stock valued at $14,045,061. 0.15% of the stock is owned by corporate insiders.

Autodesk Stock Performance

Shares of ADSK stock opened at $323.80 on Thursday. The stock has a market capitalization of $68.97 billion, a P/E ratio of 67.04, a PEG ratio of 2.88 and a beta of 1.49. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The firm's 50 day moving average is $300.14 and its 200 day moving average is $286.15. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $329.09.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup boosted their target price on shares of Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Rosenblatt Securities upped their price objective on shares of Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. DA Davidson reaffirmed a "buy" rating and issued a $375.00 price objective on shares of Autodesk in a research report on Friday, August 29th. Mizuho upped their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, Oppenheimer upped their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Seventeen 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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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