PNC Financial Services Group Inc. Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

PNC Financial Services Group Inc. cut its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,224 shares of the software company's stock after selling 857 shares during the period. PNC Financial Services Group Inc.'s holdings in Autodesk were worth $23,882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Farallon Capital Management LLC purchased a new position in Autodesk in the 4th quarter valued at about $544,381,000. GAMMA Investing LLC increased its position in Autodesk by 27,505.2% during the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after purchasing an additional 1,465,204 shares in the last quarter. Janus Henderson Group PLC increased its position in Autodesk by 43.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock worth $652,127,000 after purchasing an additional 670,699 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Autodesk by 28.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock worth $902,597,000 after purchasing an additional 667,763 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Autodesk in the fourth quarter valued at approximately $148,299,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ADSK shares. Morgan Stanley reiterated an "overweight" rating and set a $370.00 target price (up from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Citigroup increased their target price on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Loop Capital initiated coverage on Autodesk in a research report on Monday, July 21st. They issued a "hold" rating and a $320.00 target price on the stock. Macquarie reissued an "outperform" rating and set a $360.00 price target on shares of Autodesk in a report on Friday, July 11th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $350.00 target price (up from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Autodesk currently has a consensus rating of "Moderate Buy" and an average price target of $342.61.

Insiders Place Their Bets

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the transaction, the executive vice president directly owned 19,440 shares in the company, valued at $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 9,391 shares of company stock valued at $2,909,885 in the last ninety days. 0.15% of the stock is owned by company insiders.

Autodesk Trading Up 1.8%

NASDAQ ADSK opened at $302.50 on Tuesday. The firm has a market cap of $64.74 billion, a P/E ratio of 64.78, a P/E/G ratio of 2.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock's 50-day moving average is $300.32 and its 200-day moving average is $286.33. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62.

Autodesk Company 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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