MBB Public Markets I LLC Makes New Investment in Autodesk, Inc. $ADSK

Key Points

• MBB Public Markets I LLC has acquired a new stake in Autodesk, Inc., purchasing 1,178 shares valued at approximately $308,000 in the first quarter.
• Institutional investors, including SouthState Corp and others, have significantly increased their holdings in Autodesk, with hedge funds owning 90.24% of the company's stock.
• Several analysts have raised their price targets for Autodesk, with a consensus target price now standing at $356.83 and a consensus rating of "Moderate Buy."

MBB Public Markets I LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,178 shares of the software company's stock, valued at approximately $308,000.

Several other institutional investors have also recently made changes to their positions in ADSK. SouthState Corp grew its position in shares of Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Autodesk during the first quarter worth about $26,000. Close Asset Management Ltd purchased a new stake in shares of Autodesk during the first quarter worth about $27,000. Cheviot Value Management LLC purchased a new stake in shares of Autodesk during the first quarter worth about $27,000. Finally, Investment Management Corp VA ADV purchased a new stake in shares of Autodesk during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insiders Place Their Bets

In related news, EVP Steven M. Blum sold 22,420 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the completion of the sale, the executive vice president directly owned 13,099 shares of the company's stock, valued at approximately $4,240,801.25. This trade represents a 63.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total value of $869,991.10. Following the sale, the executive vice president directly owned 80,255 shares of the company's stock, valued at $25,288,350.50. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,860 shares of company stock valued at $14,045,061 over the last quarter. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ADSK has been the subject of several research analyst reports. Macquarie raised their price target on Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, August 29th. BMO Capital Markets raised their price target on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a report on Friday, May 23rd. 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. 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. Finally, 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. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Autodesk currently has a consensus rating of "Moderate Buy" and a consensus target price of $356.83.

Autodesk Price Performance

NASDAQ:ADSK opened at $323.80 on Thursday. The firm has a market capitalization of $68.97 billion, a price-to-earnings ratio of 67.04, a PEG ratio of 2.88 and a beta of 1.49. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09. The business has a 50 day simple moving average of $300.14 and a 200-day simple moving average of $286.15. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76.

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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