Autodesk, Inc. $ADSK Shares Sold by Summit Financial LLC

Key Points

• Summit Financial LLC reduced its stake in Autodesk by 38.9%, holding 1,548 shares worth approximately $405,000 after selling 984 shares in Q1.
• Various institutional investors have shown interest in Autodesk, with Farallon Capital Management LLC purchasing a stake valued at $544 million, and GAMMA Investing LLC increasing its stake by over 27,500%.
• Analysts have issued positive ratings for Autodesk, with target prices raised by firms like Citigroup and Stifel Nicolaus, resulting in an average price target of $343.04 for the stock.

Summit Financial LLC lowered its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 38.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,548 shares of the software company's stock after selling 984 shares during the quarter. Summit Financial LLC's holdings in Autodesk were worth $405,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Farallon Capital Management LLC purchased a new stake in shares of Autodesk in the fourth quarter valued at $544,381,000. GAMMA Investing LLC raised its stake in Autodesk by 27,505.2% in the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock valued at $384,985,000 after purchasing an additional 1,465,204 shares during the last quarter. Nuveen LLC acquired a new position in Autodesk in the 1st quarter valued at about $278,383,000. T. Rowe Price Investment Management Inc. lifted its holdings in Autodesk by 44.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock valued at $868,736,000 after purchasing an additional 1,016,187 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Autodesk by 43.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock worth $652,127,000 after purchasing an additional 670,699 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Trading Up 9.1%

ADSK stock traded up $26.26 during midday trading on Friday, reaching $314.75. 3,665,852 shares of the company's stock traded hands, compared to its average volume of 1,612,721. The company has a market capitalization of $67.36 billion, a P/E ratio of 67.43, a PEG ratio of 2.75 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $326.62. The business has a 50-day moving average price of $297.30 and a two-hundred day moving average price of $284.69.

Insider Buying and Selling at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 9,391 shares of company stock worth $2,909,885. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ADSK shares. Bank of America lifted their price objective on Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a research report on Friday. DA Davidson reissued a "buy" rating and issued a $375.00 price target on shares of Autodesk in a research note on Friday. Wells Fargo & Company lifted their price target on Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a report on Friday. Stifel Nicolaus increased their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a report on Friday. Finally, Rosenblatt Securities raised their target price on shares of Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday. Seventeen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Autodesk has an average rating of "Moderate Buy" and an average target price of $355.22.

Autodesk Company 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.