Autodesk, Inc. $ADSK Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Autodesk, Inc. by 33.7%, owning 10,536 shares after selling 5,350 shares in the second quarter, valued at approximately $3.26 million.
• Several brokerages have raised their target prices for Autodesk, with Bank of America increasing its target from $330 to $360 and Morgan Stanley from $370 to $385, reflecting a positive outlook from analysts.
• Company insiders sold a total of 43,374 shares valued at nearly $13.9 million in the past ninety days, indicating a potential shift in shareholder confidence.

Livforsakringsbolaget Skandia Omsesidigt decreased its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 33.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,536 shares of the software company's stock after selling 5,350 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Autodesk were worth $3,262,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADSK. SouthState Corp grew its holdings in Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Costello Asset Management INC acquired a new stake in Autodesk in the first quarter valued at $26,000. Close Asset Management Ltd acquired a new stake in Autodesk in the first quarter valued at $27,000. Cheviot Value Management LLC acquired a new stake in shares of Autodesk during the first quarter valued at $27,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Autodesk during the first quarter valued at $27,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of analyst reports. DA Davidson reaffirmed a "buy" rating and set a $375.00 price objective on shares of Autodesk in a research note on Friday, August 29th. KeyCorp increased their price objective on Autodesk from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. BMO Capital Markets increased their price objective on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research note on Friday, May 23rd. Royal Bank Of Canada raised their price target on Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Wells Fargo & Company raised their price target on Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $356.83.

Autodesk Trading Up 0.2%

Shares of Autodesk stock traded up $0.77 during trading hours on Wednesday, reaching $319.28. The stock had a trading volume of 1,758,386 shares, compared to its average volume of 1,686,386. The firm has a 50 day simple moving average of $300.81 and a two-hundred day simple moving average of $287.47. The firm has a market capitalization of $68.01 billion, a price-to-earnings ratio of 66.10, a P/E/G ratio of 2.82 and a beta of 1.49. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09.

Insider Transactions at Autodesk

In related news, 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 transaction of $1,026,675.00. Following the sale, the director directly owned 4,393 shares in the company, valued at approximately $1,427,725. This trade represents a 41.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the sale, the executive vice president owned 80,255 shares in the company, valued at approximately $25,288,350.50. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,374 shares of company stock valued at $13,899,261. 0.15% of the stock is owned by company insiders.

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.