Junto Capital Management LP Reduces Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• Junto Capital Management LP reduced its stake in Autodesk, Inc. by 16.5%, holding a total of 130,261 shares valued at approximately $34.10 million after selling 25,652 shares in the latest quarter.
• In the same period, several institutional investors significantly increased their positions in Autodesk, with SouthState Corp raising its stake by 500%.
• Analysts have recently raised their price targets for Autodesk, with Stifel Nicolaus increasing theirs from $350.00 to $375.00, reflecting their confidence in the stock, which is currently rated as a "Moderate Buy".

Junto Capital Management LP reduced its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,261 shares of the software company's stock after selling 25,652 shares during the period. Junto Capital Management LP owned about 0.06% of Autodesk worth $34,102,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cheviot Value Management LLC purchased a new stake in Autodesk during the 1st quarter worth approximately $27,000. SouthState Corp increased its stake in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after buying an additional 80 shares during the period. Investment Management Corp VA ADV purchased a new stake in Autodesk during the 4th quarter worth approximately $29,000. Costello Asset Management INC purchased a new stake in Autodesk during the 1st quarter worth approximately $26,000. Finally, Close Asset Management Ltd purchased a new stake in Autodesk during the 1st quarter worth approximately $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADSK. Berenberg Bank set a $370.00 price target on shares of Autodesk in a report on Monday. KeyCorp lifted their price target on shares of Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Citigroup lifted their price target on Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a research report on Tuesday. Piper Sandler lifted their price target on Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Finally, Loop Capital started coverage on Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 price target on the stock. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Autodesk has a consensus rating of "Moderate Buy" and an average price target of $356.83.

Insider Buying and Selling at Autodesk

In other news, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the completion of the sale, the executive vice president owned 13,311 shares in the company, valued at approximately $4,300,251.66. This trade represents a 31.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction 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 of the company's stock, valued at $1,427,725. This trade represents a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,679 shares of company stock valued at $5,916,595 in the last 90 days. Company insiders own 0.15% of the company's stock.

Autodesk Stock Performance

Shares of ADSK stock traded down $0.87 during mid-day trading on Thursday, hitting $316.64. The stock had a trading volume of 435,618 shares, compared to its average volume of 1,621,879. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $326.62. The firm has a market cap of $67.76 billion, a PE ratio of 65.50, a PEG ratio of 3.03 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.65. The company's 50-day simple moving average is $298.53 and its 200-day simple moving average is $285.13.

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.