1,122 Shares in Autodesk, Inc. $ADSK Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC has acquired 1,122 shares of Autodesk, Inc. (NASDAQ:ADSK) valued at approximately $355,000 in the 2nd quarter.
• Several institutional investors increased their stakes in Autodesk, leading to a overall ownership of 90.24% of the company's stock.
• Analysts have raised their price targets for Autodesk, with Mizuho setting a new target of $375.00 and other firms also projecting upwards of $380.00, indicating strong market confidence.

NorthCrest Asset Manangement LLC bought a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,122 shares of the software company's stock, valued at approximately $355,000.

Other hedge funds have also recently modified their holdings of the company. OMNI 360 Wealth Inc. purchased a new stake in Autodesk during the second quarter valued at $359,000. E. Ohman J or Asset Management AB raised its stake in Autodesk by 1.8% during the second quarter. E. Ohman J or Asset Management AB now owns 127,126 shares of the software company's stock valued at $39,354,000 after purchasing an additional 2,276 shares in the last quarter. Spire Wealth Management raised its stake in Autodesk by 2.5% during the first 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 in the last quarter. Sowell Financial Services LLC purchased a new stake in Autodesk during the first quarter valued at $324,000. Finally, GK Wealth Management LLC purchased a new stake in Autodesk during the second quarter valued at $348,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of Autodesk stock traded down $0.81 during midday trading on Tuesday, hitting $323.58. The company had a trading volume of 439,150 shares, compared to its average volume of 1,620,984. The stock has a market cap of $68.92 billion, a price-to-earnings ratio of 66.95, a PEG ratio of 2.86 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. The company has a fifty day simple moving average of $302.99 and a 200 day simple moving average of $289.00. Autodesk, Inc. has a 12-month low of $232.67 and a 12-month high of $329.09.

Analyst Ratings Changes

ADSK has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Autodesk from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Oppenheimer upped their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Mizuho increased their price target on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Loop Capital assumed coverage on shares of Autodesk in a research report on Monday, July 21st. They set a "hold" rating and a $320.00 price target for the company. Finally, Berenberg Bank set a $370.00 price target on shares of Autodesk in a research report on Monday, September 1st. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $356.83.

Insider Buying and Selling at Autodesk

In other news, EVP Steven M. Blum sold 22,420 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the sale, the executive vice president owned 13,099 shares of the company's stock, valued at $4,240,801.25. This trade represents a 63.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ayanna Howard sold 3,159 shares of Autodesk stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the transaction, the director directly owned 4,393 shares of the company's stock, valued at approximately $1,427,725. This trade represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,830 shares of company stock worth $13,123,341 in the last 90 days. Corporate insiders own 0.15% of the company's stock.

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.