Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Autodesk, Inc. by 13.1%, resulting in ownership of approximately 2,071,674 shares valued at about $542 million at the end of the first quarter.
• Other institutional investors, including Farallon Capital Management and Janus Henderson Group PLC, have significantly increased their positions in Autodesk, highlighting strong interest from the investment community.
• Analysts have set a consensus price target of $342.61 for Autodesk shares, with a majority rating the stock as a "Moderate Buy."

Invesco Ltd. reduced its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 13.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,071,674 shares of the software company's stock after selling 311,581 shares during the quarter. Invesco Ltd. owned about 0.97% of Autodesk worth $542,364,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Cheviot Value Management LLC bought a new stake in shares of Autodesk during the first quarter valued at approximately $27,000. Investment Management Corp VA ADV purchased a new position in Autodesk during the fourth quarter valued at $29,000. Costello Asset Management INC purchased a new position in Autodesk during the first quarter valued at $26,000. Close Asset Management Ltd purchased a new position in Autodesk during the first quarter valued at $27,000. Finally, Abound Financial LLC purchased a new position in Autodesk during the first quarter valued at $35,000. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADSK has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research note on Friday, May 23rd. Mizuho decreased their price target on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Berenberg Bank upgraded Autodesk from a "hold" rating to a "buy" rating and boosted their price target for the stock from $325.00 to $365.00 in a research note on Friday, June 27th. Wells Fargo & Company restated an "overweight" rating and issued a $360.00 price target (up previously from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Morgan Stanley restated an "overweight" rating and issued a $370.00 price target (up previously from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $342.61.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the sale, the executive vice president directly owned 19,440 shares in the company, valued at $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 9,391 shares of company stock worth $2,909,885 in the last quarter. Corporate insiders own 0.15% of the company's stock.

Autodesk Trading Up 1.4%

ADSK stock traded up $3.98 during midday trading on Wednesday, reaching $287.01. 1,974,874 shares of the company traded hands, compared to its average volume of 1,412,371. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50 day moving average of $299.70 and a 200-day moving average of $286.18. The firm has a market capitalization of $61.42 billion, a price-to-earnings ratio of 61.46, a P/E/G ratio of 2.72 and a beta of 1.46.

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.