Raiffeisen Bank International AG Sells 4,322 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Raiffeisen Bank International AG reduced its stake in Autodesk, Inc. by 4.1% in the first quarter, selling 4,322 shares and now holding 101,557 shares worth approximately $26.57 million.
• In the first quarter, numerous hedge funds adjusted their positions in Autodesk, with some increases reaching up to 30.2% for certain investors, while institutional ownership stands at 90.24%.
• Analysts have set varied price targets for Autodesk, with KeyCorp raising their target to $350.00 while others like JPMorgan cut it to $280.00, reflecting a mix of ratings and expectations for the stock's performance.

Raiffeisen Bank International AG trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 4.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 101,557 shares of the software company's stock after selling 4,322 shares during the quarter. Raiffeisen Bank International AG's holdings in Autodesk were worth $26,570,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Blair William & Co. IL lifted its stake in Autodesk by 6.7% in the first quarter. Blair William & Co. IL now owns 11,247 shares of the software company's stock worth $2,944,000 after purchasing an additional 705 shares during the last quarter. Argent Trust Co increased its holdings in shares of Autodesk by 0.9% in the first quarter. Argent Trust Co now owns 7,304 shares of the software company's stock worth $1,912,000 after buying an additional 62 shares during the period. Manchester Capital Management LLC lifted its stake in shares of Autodesk by 7.2% in the 1st quarter. Manchester Capital Management LLC now owns 657 shares of the software company's stock valued at $172,000 after acquiring an additional 44 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in Autodesk during the 1st quarter valued at about $27,000. Finally, R Squared Ltd boosted its holdings in Autodesk by 713.0% during the 1st quarter. R Squared Ltd now owns 4,390 shares of the software company's stock valued at $1,149,000 after acquiring an additional 3,850 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADSK. Citigroup lifted their price target on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Morgan Stanley restated an "overweight" rating and issued a $370.00 price objective (up from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Robert W. Baird lifted their target price on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Royal Bank Of Canada reiterated an "outperform" rating and set a $345.00 price target (up previously from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Oppenheimer restated an "outperform" rating and issued a $350.00 price objective (up from $300.00) on shares of Autodesk in a report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $342.61.

Autodesk Stock Performance

ADSK stock traded down $1.22 during midday trading on Tuesday, reaching $301.28. 138,875 shares of the company's stock traded hands, compared to its average volume of 1,595,419. Autodesk, Inc. has a 52-week low of $229.32 and a 52-week high of $326.62. The stock's 50-day moving average is $300.32 and its 200 day moving average is $286.33. The stock has a market cap of $64.47 billion, a P/E ratio of 64.53, a PEG ratio of 2.86 and a beta of 1.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling at Autodesk

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 shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by insiders.

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.