Autodesk, Inc. $ADSK Shares Sold by Swedbank AB

Key Points

• Swedbank AB has reduced its stake in Autodesk, Inc. by 2.0%, selling 2,905 shares, and now owns 138,824 shares valued at approximately $36.34 million.
• Several institutional investors, including Acadian Asset Management LLC, have significantly increased their holdings in Autodesk during the same period, indicating strong investor interest.
• Equities analysts have raised their price targets for Autodesk, with many giving it an "outperform" rating and an average target price of $356.83.

Swedbank AB lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,824 shares of the software company's stock after selling 2,905 shares during the quarter. Swedbank AB owned approximately 0.06% of Autodesk worth $36,344,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock valued at $5,440,968,000 after acquiring an additional 397,458 shares during the last quarter. Ninety One UK Ltd grew its position in Autodesk by 1.6% in the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock valued at $1,347,400,000 after acquiring an additional 79,900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Autodesk by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after buying an additional 400,514 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 worth $868,736,000 after buying an additional 1,016,187 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Autodesk by 28.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock worth $902,597,000 after buying an additional 667,763 shares during the period. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Up 1.6%

Shares of NASDAQ ADSK traded up $5.12 during mid-day trading on Thursday, reaching $324.40. 565,297 shares of the company were exchanged, compared to its average volume of 1,609,894. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. The stock has a market cap of $69.10 billion, a price-to-earnings ratio of 67.20, a P/E/G ratio of 2.82 and a beta of 1.49. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09. The firm has a 50-day moving average of $300.81 and a 200 day moving average of $287.47.

Insiders Place Their Bets

In other Autodesk news, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total value of $869,991.10. Following the completion of the sale, the executive vice president directly owned 80,255 shares in the company, valued at approximately $25,288,350.50. This trade represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the completion of the sale, the executive vice president owned 13,311 shares of the company's stock, valued at approximately $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,374 shares of company stock valued at $13,899,261. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADSK. Stifel Nicolaus upped their target price on Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Citigroup upped their target price on Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Piper Sandler upped their target price on Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Barclays upped their target price on Autodesk from $355.00 to $385.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Finally, Bank of America upped their target price on Autodesk from $330.00 to $360.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $356.83.

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.