Autodesk, Inc. (NASDAQ:ADSK) Shares Bought by Iyo Bank Ltd.

Key Points

• Iyo Bank Ltd. increased its stake in Autodesk, Inc. by 16.9%, now holding 24,290 shares valued at approximately $6.36 million, making Autodesk its 19th largest holding.
• Insiders at Autodesk have recently sold shares, with EVP Rebecca Pearce selling 3,251 shares and overall insider sales reaching 9,391 shares in the last quarter.
• Wall Street analysts are optimistic about Autodesk's performance, with many raising their price targets and assigning an overall rating of "Moderate Buy" based on a consensus average target price of $342.61.

Iyo Bank Ltd. raised its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 16.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,290 shares of the software company's stock after buying an additional 3,515 shares during the period. Autodesk makes up approximately 2.0% of Iyo Bank Ltd.'s holdings, making the stock its 19th largest holding. Iyo Bank Ltd.'s holdings in Autodesk were worth $6,359,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ADSK. Cheviot Value Management LLC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $27,000. SouthState Corp grew its position 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. Investment Management Corp VA ADV acquired a new stake in shares of Autodesk in the fourth quarter valued at approximately $29,000. Costello Asset Management INC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $26,000. Finally, Close Asset Management Ltd acquired a new stake in Autodesk during the first quarter worth approximately $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were 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 approximately $6,123,600. The trade was a 14.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADSK shares. Bank of America raised their target price on shares of Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Berenberg Bank upgraded shares of Autodesk from a "hold" rating to a "buy" rating and lifted their price target for the company from $325.00 to $365.00 in a report on Friday, June 27th. DA Davidson upgraded shares of Autodesk to a "strong-buy" rating in a report on Tuesday, July 22nd. Robert W. Baird lifted their price target on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $360.00 price target (up previously from $345.00) on shares of Autodesk in a report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $342.61.

Autodesk Stock Performance

NASDAQ:ADSK traded up $2.98 during mid-day trading on Friday, hitting $286.73. The stock had a trading volume of 1,149,131 shares, compared to its average volume of 1,602,776. The stock has a market capitalization of $61.36 billion, a price-to-earnings ratio of 61.40, a P/E/G ratio of 2.76 and a beta of 1.46. The company has a 50 day simple moving average of $299.18 and a 200-day simple moving average of $286.08. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk 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.