Kestra Advisory Services LLC Has $1.90 Million Holdings in Autodesk, Inc. $ADSK

Key Points

• Kestra Advisory Services LLC reduced its stake in Autodesk, Inc. by 18.9% in the first quarter of 2023, leaving them with a total value of $1.90 million in shares.
• Institutional investors and hedge funds own over 90% of Autodesk's stock, indicating substantial institutional confidence in the company's value.
• Investment analysts have maintained a positive outlook on Autodesk, with multiple brokerages adjusting their price targets to a range between $320 and $385, leading to an average rating of "Moderate Buy."

Kestra Advisory Services LLC cut its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 18.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,272 shares of the software company's stock after selling 1,697 shares during the period. Kestra Advisory Services LLC's holdings in Autodesk were worth $1,904,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ADSK. Brighton Jones LLC increased its position in Autodesk by 14.5% in the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock worth $343,000 after buying an additional 147 shares during the period. Quarry LP increased its holdings in shares of Autodesk by 106.3% during the fourth quarter. Quarry LP now owns 229 shares of the software company's stock valued at $68,000 after purchasing an additional 118 shares during the period. AQR Capital Management LLC increased its holdings in shares of Autodesk by 40.7% during the fourth quarter. AQR Capital Management LLC now owns 131,130 shares of the software company's stock valued at $38,758,000 after purchasing an additional 37,942 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Autodesk by 90.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 40,824 shares of the software company's stock valued at $12,066,000 after purchasing an additional 19,374 shares during the period. Finally, Keel Point LLC increased its holdings in shares of Autodesk by 9.3% during the fourth quarter. Keel Point LLC now owns 2,499 shares of the software company's stock valued at $739,000 after purchasing an additional 212 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the completion of the sale, the executive vice president directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $325.00, for a total value of $1,026,675.00. Following the sale, the director owned 4,393 shares of the company's stock, valued at $1,427,725. The trade was a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,679 shares of company stock worth $5,916,595. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

ADSK has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Morgan Stanley raised their price target on Autodesk from $370.00 to $385.00 and gave the company an "overweight" rating in a report on Sunday. Mizuho raised their price target on Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Robert W. Baird raised their price target on Autodesk from $345.00 to $363.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Finally, Royal Bank Of Canada raised their price target on Autodesk from $345.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $356.83.

Autodesk Trading Down 1.3%

NASDAQ ADSK traded down $4.30 on Wednesday, hitting $314.87. 1,094,413 shares of the company were exchanged, compared to its average volume of 1,623,829. The company's 50 day moving average price is $298.23 and its 200-day moving average price is $284.90. 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 firm has a market capitalization of $67.38 billion, a P/E ratio of 65.10, a price-to-earnings-growth ratio of 3.03 and a beta of 1.49. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.62.

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.