Plato Investment Management Ltd Sells 1,403 Shares of Autodesk, Inc. $ADSK

Key Points

• Plato Investment Management Ltd reduced its stake in Autodesk by 20.1%, now holding 5,569 shares after selling 1,403 shares in the first quarter.
• Multiple institutional investors have adjusted their positions in Autodesk, with notable increases from firms like Freedom Investment Management and Financial Network Wealth Advisors during the same period.
• Analysts have significantly raised Autodesk's price targets, with Mizuho, Citigroup, and others setting new targets between $375.00 and $393.00, reflecting a consensus rating of Moderate Buy.

Plato Investment Management Ltd decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,569 shares of the software company's stock after selling 1,403 shares during the quarter. Plato Investment Management Ltd's holdings in Autodesk were worth $1,474,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ADSK. Freedom Investment Management Inc. raised its holdings in shares of Autodesk by 2.4% during the first quarter. Freedom Investment Management Inc. now owns 1,473 shares of the software company's stock valued at $386,000 after purchasing an additional 34 shares during the last quarter. Financial Network Wealth Advisors LLC grew its position in Autodesk by 34.9% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock worth $37,000 after purchasing an additional 37 shares during the period. Oregon Pacific Wealth Management LLC lifted its holdings in shares of Autodesk by 4.0% during the 1st quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock valued at $262,000 after buying an additional 38 shares during the period. GPS Wealth Strategies Group LLC lifted its holdings in shares of Autodesk by 30.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock valued at $46,000 after buying an additional 41 shares during the period. Finally, Sky Investment Group LLC boosted its stake in shares of Autodesk by 0.5% in the 1st quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock worth $2,183,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Down 0.4%

ADSK stock opened at $323.80 on Thursday. The business's 50-day moving average price is $300.14 and its 200-day moving average price is $286.15. The stock has a market cap of $68.97 billion, a P/E ratio of 67.04, a PEG ratio of 2.88 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. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $329.09.

Analysts Set New Price Targets

ADSK has been the subject of a number of research reports. Mizuho upped their price objective on Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Citigroup boosted their price target on Autodesk from $376.00 to $393.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Stifel Nicolaus upped their price target on shares of Autodesk from $350.00 to $375.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Wells Fargo & Company raised their price objective on shares of Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Finally, 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 target price for the company. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $356.83.

Insider Activity

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of the company'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 completion of the transaction, the executive vice president directly owned 13,311 shares in the company, valued at $4,300,251.66. This represents a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,860 shares of company stock worth $14,045,061 over the last ninety days. Company 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.

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