QRG Capital Management Inc. Has $5.89 Million Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• QRG Capital Management Inc. increased its holdings in Autodesk, Inc. by 26.3%, reaching a total value of $5.89 million after acquiring additional shares during the second quarter.
• Several other hedge funds also significantly raised their stakes in Autodesk, with institutional investors collectively owning 90.24% of the company's stock.
• Executive insiders, including EVP Steven M. Blum, sold a total of 35,386 shares worth approximately $11.43 million over the past quarter, indicating a decrease in their positions.

QRG Capital Management Inc. grew its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 26.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,036 shares of the software company's stock after buying an additional 3,962 shares during the quarter. QRG Capital Management Inc.'s holdings in Autodesk were worth $5,893,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. SouthState Corp raised its stake in 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. Costello Asset Management INC acquired a new position in Autodesk during the first quarter worth $26,000. Close Asset Management Ltd acquired a new position in Autodesk during the first quarter worth $27,000. Cheviot Value Management LLC acquired a new position in Autodesk during the first quarter worth $27,000. Finally, Flaharty Asset Management LLC acquired a new position in Autodesk during the first quarter worth $27,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Insiders Place Their Bets

In other news, EVP Steven M. Blum sold 22,420 shares of Autodesk 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 owned 13,099 shares in the company, valued at $4,240,801.25. The trade was a 63.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rebecca Pearce sold 6,129 shares of Autodesk 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 sale, the executive vice president directly owned 13,311 shares in the company, valued at approximately $4,300,251.66. This represents a 31.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,386 shares of company stock worth $11,433,201. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ADSK. KeyCorp increased their price objective on Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note 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. Macquarie increased their target price on Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Oppenheimer increased their target price on Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Wells Fargo & Company increased their target price on Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $359.13.

Autodesk Trading Down 0.6%

NASDAQ:ADSK opened at $318.90 on Monday. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week 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 stock has a market capitalization of $67.93 billion, a PE ratio of 66.02, a price-to-earnings-growth ratio of 2.83 and a beta of 1.49. The business's 50-day simple moving average is $307.37 and its 200-day simple moving average is $293.04.

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.

Want to see what other hedge funds are holding ADSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autodesk, Inc. (NASDAQ:ADSK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.