Osterweis Capital Management Inc. Cuts Position in Autodesk, Inc. $ADSK

Key Points

• Osterweis Capital Management Inc. reduced its stake in Autodesk, Inc. by 6.2%, now holding 15,060 shares valued at approximately $3.94 million.
• Other institutional investors also adjusted their positions, with notable increases in holdings from companies like Wealth Enhancement Advisory Services LLC, which raised its stake by 27.4%.
• Analysts have raised target prices for Autodesk, with Citigroup increasing their target from $376 to $393, reflecting strong optimism about the company's performance.

Osterweis Capital Management Inc. lessened its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 6.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,060 shares of the software company's stock after selling 1,000 shares during the quarter. Osterweis Capital Management Inc.'s holdings in Autodesk were worth $3,943,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADSK. Spire Wealth Management increased its holdings 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 acquiring an additional 50 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Autodesk during the 1st quarter valued at about $324,000. Cambridge Investment Research Advisors Inc. increased its holdings in Autodesk by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock valued at $3,565,000 after acquiring an additional 229 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Autodesk by 27.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock valued at $11,212,000 after acquiring an additional 9,222 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Autodesk by 5.4% during the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock valued at $1,471,000 after acquiring an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $324.52 on Friday. The company has a market cap of $69.12 billion, a PE ratio of 67.19, a price-to-earnings-growth ratio of 2.87 and a beta of 1.49. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $329.09. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. The company has a 50-day simple moving average of $300.31 and a 200-day simple moving average of $286.42.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the sale, the executive vice president directly owned 13,311 shares of the company's stock, valued at approximately $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ayanna Howard sold 3,159 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director directly owned 4,393 shares in the company, valued at $1,427,725. This represents a 41.83% 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 three months. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ADSK. Citigroup raised their target price on shares of Autodesk from $376.00 to $393.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Bank of America raised their target price on shares of Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a report on Friday, August 29th. DA Davidson restated a "buy" rating and set a $375.00 target price on shares of Autodesk in a report on Friday, August 29th. Wells Fargo & Company raised their target price on shares of Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Finally, Stifel Nicolaus lifted their price target on shares of Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $356.83.

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.

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