Autodesk, Inc. $ADSK Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC reduced its stake in Autodesk, Inc. by 35.9%, holding 2,004 shares valued at approximately $525,000 after selling 1,124 shares in the first quarter.
• Several institutional investors increased their positions in Autodesk, with AlphaQuest LLC raising its stake by an impressive 509.5% during the same period.
• Research analysts are generally optimistic, with a consensus rating of "Moderate Buy" for Autodesk, and multiple firms increasing their price targets, including a raise to $360.00 by Wells Fargo & Company.

SVB Wealth LLC reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,004 shares of the software company's stock after selling 1,124 shares during the period. SVB Wealth LLC's holdings in Autodesk were worth $525,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SouthState Corp raised its stake in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Costello Asset Management INC acquired a new stake in Autodesk during the 1st quarter worth $26,000. Close Asset Management Ltd purchased a new stake in shares of Autodesk in the first quarter valued at about $27,000. Cheviot Value Management LLC purchased a new stake in shares of Autodesk in the first quarter valued at about $27,000. Finally, Investment Management Corp VA ADV purchased a new stake in shares of Autodesk in the fourth quarter valued at about $29,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Rebecca Pearce sold 3,251 shares of the 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 of the company's stock, valued at $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 9,391 shares of company stock valued at $2,909,885 over the last ninety days. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ADSK. DA Davidson raised shares of Autodesk to a "strong-buy" rating in a report on Tuesday, July 22nd. KeyCorp reiterated an "overweight" rating and set a $350.00 price target (up from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Piper Sandler boosted their price target on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Morgan Stanley reiterated an "overweight" rating and set a $370.00 price target (up from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Citigroup boosted their price target on shares of Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $343.04.

Autodesk Trading Up 0.9%

ADSK stock traded up $2.54 on Thursday, hitting $288.49. 3,991,210 shares of the company were exchanged, compared to its average volume of 1,599,003. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The business's fifty day moving average is $297.44 and its two-hundred day moving average is $284.81. The stock has a market capitalization of $61.74 billion, a price-to-earnings ratio of 61.78, a price-to-earnings-growth ratio of 2.72 and a beta of 1.46.

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.