Kirtland Hills Capital Management LLC Takes $322,000 Position in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Kirtland Hills Capital Management LLC acquired 1,242 shares of Autodesk, Inc. valued at approximately $322,000 in the first quarter, reflecting growing institutional interest in the company.
• Autodesk's stock has received multiple upgrades from various brokerages, with KeyCorp setting a price target of $350.00, indicating confidence in the stock's upward potential.
• Insider trading activity includes the sale of 3,251 shares by EVP Rebecca Pearce, which accounted for a 14.33% decrease in her holdings, impacting overall insider ownership to just 0.15% of the company’s stock.

Kirtland Hills Capital Management LLC bought a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,242 shares of the software company's stock, valued at approximately $322,000.

Several other hedge funds also recently added to or reduced their stakes in ADSK. Spire Wealth Management grew its stake in Autodesk by 2.5% during the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after purchasing an additional 50 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Autodesk in the first quarter worth about $324,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Autodesk by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after buying an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Autodesk by 27.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after buying an additional 9,222 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Autodesk by 5.4% in the first quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after buying an additional 290 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays upped their target price on Autodesk from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Bank of America upped their target price on Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Wells Fargo & Company restated an "overweight" rating and issued a $360.00 target price (up previously from $345.00) on shares of Autodesk in a research note on Friday, May 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $345.00 price target (up previously from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Piper Sandler increased their price target on Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

Autodesk Stock Down 2.3%

NASDAQ:ADSK traded down $6.92 during midday trading on Friday, reaching $296.19. The company had a trading volume of 818,094 shares, compared to its average volume of 1,606,376. The firm has a market capitalization of $63.39 billion, a price-to-earnings ratio of 63.47, a PEG ratio of 2.96 and a beta of 1.44. The stock's fifty day simple moving average is $300.14 and its 200-day simple moving average is $286.25. Autodesk, Inc. has a 12-month low of $223.03 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the sale, the executive vice president directly owned 19,440 shares of the company's stock, valued at $6,123,600. The trade was a 14.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by insiders.

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.