Swiss National Bank Sells 1,000 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• The Swiss National Bank reduced its holdings in Autodesk by 0.2%, owning 606,400 shares valued at approximately $158.76 million after selling 1,000 shares.
• Vanguard Group Inc. increased its stake in Autodesk by 1.9%, owning over 20.78 million shares worth about $5.44 billion, showcasing strong institutional support for the company.
• Analysts have upgraded Autodesk shares, raising target prices; Barclays increased its target from $325 to $355 while maintaining an "overweight" rating.

Swiss National Bank decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 606,400 shares of the software company's stock after selling 1,000 shares during the period. Swiss National Bank owned about 0.28% of Autodesk worth $158,756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new stake in Autodesk during the 1st quarter worth $26,000. Close Asset Management Ltd purchased a new stake in Autodesk during the 1st quarter worth $27,000. Cheviot Value Management LLC purchased a new stake in Autodesk during the 1st quarter worth $27,000. Investment Management Corp VA ADV purchased a new stake in Autodesk during the 4th quarter worth $29,000. Finally, Abound Financial LLC purchased a new stake in Autodesk during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Analyst Ratings Changes

ADSK has been the subject of several research analyst reports. Macquarie reissued an "outperform" rating and issued a $360.00 target price on shares of Autodesk in a research report on Friday, July 11th. DA Davidson raised shares of Autodesk to a "strong-buy" rating in a research note on Tuesday, July 22nd. Robert W. Baird boosted their target price on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Berenberg Bank raised shares of Autodesk from a "hold" rating to a "buy" rating and boosted their target price for the company from $325.00 to $365.00 in a research note on Friday, June 27th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $340.00 target price on shares of Autodesk in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $342.61.

Autodesk Stock Down 0.6%

Shares of Autodesk stock traded down $1.59 during trading on Tuesday, reaching $283.03. 2,311,923 shares of the company traded hands, compared to its average volume of 1,604,385. 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 1-year low of $232.67 and a 1-year high of $326.62. The company has a 50 day moving average price of $300.03 and a 200-day moving average price of $286.20. The firm has a market capitalization of $60.57 billion, a PE ratio of 60.61, a P/E/G ratio of 2.80 and a beta of 1.46.

Insider Activity

In related news, EVP Rebecca Pearce sold 3,251 shares of the business'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 transaction, 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 Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is owned by insiders.

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.