Sustainable Growth Advisers LP Cuts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Sustainable Growth Advisers LP trimmed its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 62.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 730,597 shares of the software company's stock after selling 1,210,911 shares during the period. Sustainable Growth Advisers LP owned approximately 0.34% of Autodesk worth $191,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADSK. Oregon Pacific Wealth Management LLC increased its holdings in Autodesk by 4.0% in the 1st quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock valued at $262,000 after buying an additional 38 shares during the period. GPS Wealth Strategies Group LLC increased its stake in Autodesk by 30.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock valued at $46,000 after acquiring an additional 41 shares during the last quarter. FineMark National Bank & Trust increased its stake in Autodesk by 1.3% in the fourth quarter. FineMark National Bank & Trust now owns 3,377 shares of the software company's stock valued at $998,000 after acquiring an additional 42 shares during the last quarter. Johnson Financial Group Inc. raised its position in Autodesk by 30.2% during the fourth quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock valued at $56,000 after purchasing an additional 42 shares in the last quarter. Finally, Sky Investment Group LLC lifted its stake in Autodesk by 0.5% during the first quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock worth $2,183,000 after purchasing an additional 42 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the sale, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. The trade was a 14.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by corporate insiders.

Autodesk Trading Up 0.0%

Shares of NASDAQ:ADSK traded up $0.12 during midday trading on Thursday, reaching $301.10. The company's stock had a trading volume of 1,286,926 shares, compared to its average volume of 1,822,159. Autodesk, Inc. has a fifty-two week low of $223.03 and a fifty-two 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 firm has a 50 day moving average price of $299.08 and a two-hundred day moving average price of $285.69. The firm has a market capitalization of $64.44 billion, a price-to-earnings ratio of 64.48, a PEG ratio of 2.90 and a beta of 1.44.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADSK. Berenberg Bank raised Autodesk from a "hold" rating to a "buy" rating and boosted their price target for the stock from $325.00 to $365.00 in a report on Friday, June 27th. KeyCorp reissued an "overweight" rating and set a $350.00 target price (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Loop Capital assumed coverage on shares of Autodesk in a report on Monday. They set a "hold" rating and a $320.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $340.00 price objective on shares of Autodesk in a research report on Tuesday, May 20th. Finally, Piper Sandler raised their target price on shares of Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Autodesk has an average rating of "Moderate Buy" and an average price target of $342.61.

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.