Public Employees Retirement System of Ohio Boosts Stock Position in Autodesk, Inc. $ADSK

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Autodesk, Inc. by 1.1%, holding 96,761 shares valued at approximately $29.95 million.
• Insider transactions revealed significant stock sales by executives, with EVP Steven M. Blum selling 22,420 shares for over $7.2 million, totaling a 63.12% decrease in his ownership.
• Analysts have upgraded their price targets for Autodesk, with reports indicating targets up to $393.00, maintaining a consensus rating of "Moderate Buy."

Public Employees Retirement System of Ohio grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,761 shares of the software company's stock after acquiring an additional 1,067 shares during the period. Public Employees Retirement System of Ohio's holdings in Autodesk were worth $29,954,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cheviot Value Management LLC purchased a new stake in shares of Autodesk during the first quarter worth $27,000. SouthState Corp lifted its position in shares of Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of Autodesk in the second quarter worth $31,000. Costello Asset Management INC bought a new position in shares of Autodesk in the first quarter worth $26,000. Finally, Close Asset Management Ltd bought a new position in shares of Autodesk in the first quarter worth $27,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insider Transactions at Autodesk

In other news, EVP Steven M. Blum sold 22,420 shares of the firm's stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 13,311 shares in the company, valued at $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,830 shares of company stock worth $13,123,341 in the last three months. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADSK. Stifel Nicolaus upped 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. Citigroup upped their price target on shares of Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. DA Davidson reaffirmed a "buy" rating and issued a $375.00 price target on shares of Autodesk in a report on Friday, August 29th. Macquarie upped their price target on shares of Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Piper Sandler upped their price target on shares of Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and an average target price of $356.83.

Autodesk Stock Down 0.4%

ADSK opened at $323.52 on Thursday. The stock has a market cap of $68.91 billion, a PE ratio of 66.98, a P/E/G 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 52 week low of $232.67 and a 52 week high of $329.09. The business's fifty day simple moving average is $304.39 and its 200 day simple moving average is $289.48.

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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