Janney Montgomery Scott LLC Sells 16,083 Shares of Autodesk, Inc. $ADSK

Key Points

• Janney Montgomery Scott LLC reduced its stake in Autodesk by 16.9%, selling 16,083 shares in the 2nd quarter, leaving it with 79,280 shares valued at approximately $24.54 million.
• Several hedge funds increased their stakes in Autodesk, with T. Rowe Price boosting its holdings by 44.1% and AQR Capital Management by 336.7% in the first quarter.
• Experts at Wells Fargo and Citigroup raised their target prices for Autodesk shares, indicating a consensus "Moderate Buy" rating with an average target price of $359.13.

Janney Montgomery Scott LLC decreased its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 16.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,280 shares of the software company's stock after selling 16,083 shares during the period. Janney Montgomery Scott LLC's holdings in Autodesk were worth $24,543,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ADSK. Nuveen LLC acquired a new stake in Autodesk in the 1st quarter valued at about $278,383,000. T. Rowe Price Investment Management Inc. lifted its stake in Autodesk by 44.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock valued at $868,736,000 after purchasing an additional 1,016,187 shares during the last quarter. AQR Capital Management LLC lifted its stake in Autodesk by 336.7% in the 1st quarter. AQR Capital Management LLC now owns 572,701 shares of the software company's stock valued at $147,339,000 after purchasing an additional 441,571 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Autodesk by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock valued at $904,326,000 after purchasing an additional 400,514 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock valued at $5,440,968,000 after purchasing an additional 397,458 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Down 0.6%

NASDAQ ADSK opened at $315.73 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $329.09. The company has a 50 day moving average of $306.66 and a 200-day moving average of $291.87. The company has a market cap of $67.25 billion, a price-to-earnings ratio of 65.37, a PEG ratio of 2.81 and a beta of 1.49.

Insider Buying and Selling at Autodesk

In other news, Director Ayanna Howard sold 917 shares of Autodesk stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $325.00, for a total value of $298,025.00. Following the completion of the sale, the director directly owned 3,476 shares in the company, valued at approximately $1,129,700. The trade was a 20.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven M. Blum sold 22,420 shares of Autodesk stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,386 shares of company stock valued at $11,433,201 in the last three months. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. 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. Wall Street Zen downgraded shares of Autodesk from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Citigroup raised their target price on shares of Autodesk from $376.00 to $393.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $359.13.

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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