Kentucky Retirement Systems Insurance Trust Fund Sells 1,723 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 21.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,266 shares of the software company's stock after selling 1,723 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Autodesk were worth $1,640,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new position in Autodesk during the fourth quarter worth about $29,000. Tradewinds Capital Management LLC boosted its holdings in shares of Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after buying an additional 50 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in shares of Autodesk in the fourth quarter valued at approximately $30,000. Addison Advisors LLC increased its position in Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after buying an additional 74 shares during the period. Finally, Hurley Capital LLC acquired a new position in shares of Autodesk in the fourth quarter valued at about $44,000. Institutional investors own 90.24% of the company's stock.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Rebecca Pearce sold 2,544 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $305.00, for a total value of $775,920.00. Following the completion of the sale, the executive vice president now owns 25,801 shares in the company, valued at $7,869,305. This represents a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,539 shares of company stock valued at $1,592,002 in the last ninety days. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays lifted their price objective on Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Rosenblatt Securities reiterated a "buy" rating and set a $340.00 price objective on shares of Autodesk in a research report on Tuesday, May 20th. Wells Fargo & Company reiterated an "overweight" rating and issued a $360.00 price target (up from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. The Goldman Sachs Group increased their target price on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $370.00 price objective (up previously from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $337.45.

Autodesk Stock Performance

Shares of Autodesk stock traded up $3.24 during mid-day trading on Tuesday, hitting $304.19. 1,464,601 shares of the stock were exchanged, compared to its average volume of 1,491,120. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $65.10 billion, a P/E ratio of 65.14, a P/E/G ratio of 2.90 and a beta of 1.45. The company has a 50-day simple moving average of $287.12 and a 200 day simple moving average of $285.19. Autodesk, Inc. has a 12 month low of $223.03 and a 12 month high of $326.62.

About Autodesk

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.