Sanibel Captiva Trust Company Inc. Reduces Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Sanibel Captiva Trust Company Inc. reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,821 shares of the software company's stock after selling 1,579 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Autodesk were worth $7,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ADSK. Cullen Frost Bankers Inc. boosted its holdings in Autodesk by 3.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,081 shares of the software company's stock valued at $320,000 after acquiring an additional 39 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Autodesk by 9.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 503 shares of the software company's stock valued at $149,000 after purchasing an additional 42 shares during the period. FineMark National Bank & Trust boosted its stake in shares of Autodesk by 1.3% in the 4th quarter. FineMark National Bank & Trust now owns 3,377 shares of the software company's stock valued at $998,000 after purchasing an additional 42 shares during the last quarter. Johnson Financial Group Inc. raised its position in shares of Autodesk by 30.2% during the 4th quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock valued at $56,000 after acquiring an additional 42 shares during the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of Autodesk by 6.4% in the 4th quarter. Continuum Advisory LLC now owns 749 shares of the software company's stock valued at $221,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ADSK. UBS Group boosted their target price on Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price target on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley reissued an "overweight" rating and issued a $370.00 price objective (up previously from $330.00) on shares of Autodesk in a report on Friday, May 23rd. KeyCorp restated an "overweight" rating and issued a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Wells Fargo & Company restated an "overweight" rating and set a $360.00 price objective (up from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $337.45.

Insider Transactions at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company's stock, valued at $534,200. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Autodesk Stock Down 0.3%

NASDAQ ADSK traded down $0.77 on Wednesday, hitting $296.77. 1,198,594 shares of the company were exchanged, compared to its average volume of 1,558,490. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $63.51 billion, a PE ratio of 58.88, a PEG ratio of 2.94 and a beta of 1.45. The stock has a fifty day moving average of $279.08 and a 200-day moving average of $285.65. Autodesk, Inc. has a 12 month low of $214.51 and a 12 month high of $326.62.

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.