J. Safra Sarasin Holding AG Trims Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Autodesk, Inc. by 21.4%, selling 8,885 shares, and now holds 32,674 shares valued at approximately $8.55 million.
• Institutional ownership of Autodesk stock is high, with 90.24% of the company's stock held by large investors, indicating strong institutional interest.
• Analysts have given Autodesk a consensus rating of "Moderate Buy" with an average target price of $342.61, reflecting bullish sentiment despite recent stock price fluctuations.

J. Safra Sarasin Holding AG lowered its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 21.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,674 shares of the software company's stock after selling 8,885 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Autodesk were worth $8,554,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ADSK. Ninety One UK Ltd increased its holdings in shares of Autodesk by 1.6% during the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock valued at $1,347,400,000 after purchasing an additional 79,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Autodesk by 28.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock worth $902,597,000 after buying an additional 667,763 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Autodesk by 4.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after buying an additional 124,948 shares during the period. Northern Trust Corp increased its holdings in shares of Autodesk by 20.6% in the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock worth $727,933,000 after acquiring an additional 420,838 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Autodesk by 8.7% during the fourth quarter. Invesco Ltd. now owns 2,383,255 shares of the software company's stock valued at $704,419,000 after purchasing an additional 191,666 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ADSK shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $345.00 price target (up from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Robert W. Baird increased their price target on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Piper Sandler increased their price objective on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. BMO Capital Markets lifted their price target on shares of Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research note on Friday, May 23rd. Finally, DA Davidson raised shares of Autodesk to a "strong-buy" rating in a research report on Tuesday, July 22nd. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $342.61.

Autodesk Trading Up 1.0%

Shares of ADSK traded up $3.06 during mid-day trading on Wednesday, reaching $302.26. The stock had a trading volume of 155,145 shares, compared to its average volume of 1,590,380. The business's fifty day moving average is $300.30 and its 200 day moving average is $286.42. The firm has a market cap of $64.68 billion, a price-to-earnings ratio of 64.74, a P/E/G ratio of 2.91 and a beta of 1.46. Autodesk, Inc. has a 52-week low of $232.36 and a 52-week high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

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.