Patton Fund Management Inc. Invests $252,000 in Autodesk, Inc. $ADSK

Key Points

• Patton Fund Management Inc. has acquired a new position in Autodesk, purchasing 815 shares valued at approximately $252,000 in the second quarter.
• Institutional investors control 90.24% of Autodesk's stock, with notable recent activity including OMNI 360 Wealth Inc.'s acquisition worth $359,000.
• Analysts have raised their price targets for Autodesk, with Robert W. Baird and Macquarie setting new targets of $363.00 and $380.00, respectively.

Patton Fund Management Inc. purchased a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 815 shares of the software company's stock, valued at approximately $252,000.

Other institutional investors also recently made changes to their positions in the company. OMNI 360 Wealth Inc. acquired a new position in shares of Autodesk in the second quarter worth $359,000. E. Ohman J or Asset Management AB increased its stake in Autodesk by 1.8% in 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 during the last quarter. Spire Wealth Management increased its stake in Autodesk by 2.5% in 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 during the last quarter. Sowell Financial Services LLC acquired a new position in Autodesk in the first quarter valued at $324,000. Finally, GK Wealth Management LLC acquired a new position in Autodesk in the second quarter valued at $348,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Steven M. Blum sold 22,420 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the completion of the sale, the executive vice president owned 13,099 shares of the company's stock, valued at $4,240,801.25. This represents a 63.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $325.00, for a total value of $1,026,675.00. Following the completion of the sale, the director directly owned 4,393 shares of the company's stock, valued at $1,427,725. The trade was a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,830 shares of company stock worth $13,123,341 over the last three months. 0.15% of the stock is currently owned by corporate insiders.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $322.88 on Friday. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $329.09. The business has a 50-day moving average of $305.46 and a 200-day moving average of $290.74. 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 market capitalization of $68.77 billion, a price-to-earnings ratio of 66.85, a PEG ratio of 2.86 and a beta of 1.49.

Analysts Set New Price Targets

ADSK has been the subject of several analyst reports. Robert W. Baird upped their target price on Autodesk from $345.00 to $363.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Macquarie upped their target price on Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. DA Davidson reiterated a "buy" rating and issued a $375.00 target price on shares of Autodesk in a research note on Friday, August 29th. Loop Capital initiated coverage on Autodesk in a research note on Monday, July 21st. They issued a "hold" rating and a $320.00 target price for the company. Finally, Citigroup upped their target price on Autodesk from $376.00 to $393.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

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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