Mirae Asset Global Investments Co. Ltd. Sells 50,572 Shares of Autodesk, Inc. $ADSK

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its holdings in Autodesk by 27.1%, selling 50,572 shares and holding a total of 135,822 shares valued at approximately $42 million.
• Analysts have generally given Autodesk a Moderate Buy rating, with a consensus price target of around $359.13, and several firms increased their price targets to between $373.00 and $380.00.
• Insider trading activity includes significant sales by executives, with one EVP selling 2,761 shares and a director selling 3,159 shares, indicating a trend among insiders to offload portions of their stakes.

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 27.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,822 shares of the software company's stock after selling 50,572 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Autodesk worth $42,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OMNI 360 Wealth Inc. purchased a new stake in shares of Autodesk in the 2nd quarter worth $359,000. E. Ohman J or Asset Management AB increased its stake in shares of Autodesk by 1.8% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 127,126 shares of the software company's stock worth $39,354,000 after purchasing an additional 2,276 shares in the last quarter. Spire Wealth Management increased its stake in shares of Autodesk by 2.5% in the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after purchasing an additional 50 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Autodesk in the 1st quarter worth $324,000. Finally, GK Wealth Management LLC purchased a new stake in shares of Autodesk in the 2nd quarter worth $348,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Loop Capital assumed coverage on Autodesk in a research note on Monday, July 21st. They issued a "hold" rating and a $320.00 price objective for the company. Mizuho upped their price objective on Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Piper Sandler increased their price target on Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Royal Bank Of Canada increased 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, Stifel Nicolaus increased their price target on Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $359.13.

Autodesk Trading Down 0.6%

Shares of Autodesk stock opened at $318.90 on Friday. The firm has a market cap of $67.93 billion, a price-to-earnings ratio of 66.02, a PEG ratio of 2.84 and a beta of 1.49. The business has a 50-day moving average price of $307.37 and a 200-day moving average price of $292.69. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $329.09.

Insider Transactions at Autodesk

In other news, EVP Ruth Ann Keene sold 2,761 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the completion of the transaction, the executive vice president owned 80,255 shares in the company, valued at $25,288,350.50. This trade represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $325.00, for a total value of $1,026,675.00. Following the transaction, the director owned 4,393 shares of the company's stock, valued at approximately $1,427,725. The trade was a 41.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,386 shares of company stock worth $11,433,201. 0.15% of the stock is currently owned by company insiders.

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.

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