Rathbones Group PLC Sells 26,629 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Rathbones Group PLC has reduced its stake in Autodesk, Inc. by 27.6%, ending the quarter with 70,011 shares valued at approximately $18.33 million.
• Autodesk's stock is currently experiencing trading at $283.03, with analysts setting target prices ranging from $300 to $376 and an overall consensus rating of "Moderate Buy."
• Recent insider activity includes the sale of 3,251 shares by Executive Vice President Rebecca Pearce, marking a 14.33% decrease in her holdings.

Rathbones Group PLC lowered its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 27.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,011 shares of the software company's stock after selling 26,629 shares during the period. Rathbones Group PLC's holdings in Autodesk were worth $18,329,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SouthState Corp grew its holdings in shares of Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares during the period. Costello Asset Management INC bought a new stake in shares of Autodesk in the first quarter worth $26,000. Close Asset Management Ltd bought a new stake in shares of Autodesk in the first quarter worth $27,000. Cheviot Value Management LLC bought a new stake in shares of Autodesk in the first quarter worth $27,000. Finally, Investment Management Corp VA ADV bought a new stake in shares of Autodesk in the fourth quarter worth $29,000. Institutional investors own 90.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley reissued an "overweight" rating and set a $370.00 price target (up previously from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Berenberg Bank raised Autodesk from a "hold" rating to a "buy" rating and boosted their price target for the company from $325.00 to $365.00 in a report on Friday, June 27th. Barclays boosted their price target on Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. BMO Capital Markets boosted their price target on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a report on Friday, May 23rd. Finally, Oppenheimer reissued an "outperform" rating and set a $350.00 price target (up previously from $300.00) 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $342.61.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the company'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 transaction of $1,024,065.00. Following the sale, the executive vice president directly owned 19,440 shares in the company, valued at $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 9,391 shares of company stock worth $2,909,885 in the last quarter. Corporate insiders own 0.15% of the company's stock.

Autodesk Trading Up 1.1%

ADSK stock traded up $2.98 during midday trading on Friday, reaching $286.73. 1,149,378 shares of the company traded hands, compared to its average volume of 1,432,251. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50 day moving average of $298.96 and a 200-day moving average of $285.92. The firm has a market capitalization of $61.36 billion, a price-to-earnings ratio of 61.40, a P/E/G ratio of 2.73 and a beta of 1.46.

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.