KBC Group NV Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

KBC Group NV cut its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 10.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,236 shares of the software company's stock after selling 18,374 shares during the period. KBC Group NV owned approximately 0.08% of Autodesk worth $43,258,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new position in shares of Autodesk during the 4th quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new stake in Autodesk during the fourth quarter valued at $30,000. Hurley Capital LLC bought a new position in Autodesk during the fourth quarter valued at $44,000. CoreCap Advisors LLC lifted its position in Autodesk by 212.0% during the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock valued at $46,000 after purchasing an additional 106 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of Autodesk by 30.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock worth $46,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insider Activity at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 2,544 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $305.00, for a total transaction of $775,920.00. Following the transaction, the executive vice president now directly owns 25,801 shares in the company, valued at $7,869,305. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 3,087 shares of company stock worth $936,607. Company insiders own 0.15% of the company's stock.

Autodesk Price Performance

Shares of ADSK stock opened at $305.13 on Monday. The company has a market capitalization of $65.30 billion, a P/E ratio of 65.34, a P/E/G ratio of 2.94 and a beta of 1.45. The company's 50-day simple moving average is $290.57 and its two-hundred day simple moving average is $285.10. Autodesk, Inc. has a one year low of $223.03 and a one year 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.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADSK. 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 report on Friday, May 16th. KeyCorp restated an "overweight" rating and set a $350.00 price objective (up from $323.00) on shares of Autodesk in a research report on Friday, May 23rd. Rosenblatt Securities reiterated a "buy" rating and issued a $340.00 target price on shares of Autodesk in a report on Tuesday, May 20th. Oppenheimer restated an "outperform" rating and set a $350.00 price target (up previously from $300.00) on shares of Autodesk in a report on Friday, May 23rd. Finally, Bank of America raised their price target on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $340.45.

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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