Triad Wealth Partners LLC Invests $430,000 in Autodesk, Inc. $ADSK

Key Points

• Triad Wealth Partners LLC has invested approximately $430,000 in Autodesk, acquiring 1,388 shares of the company during the second quarter.
• Several large investors have increased their stakes in Autodesk, with 90.24% of the stock owned by institutional investors, indicating strong confidence in the company's performance.
• Analysts have raised their price targets for Autodesk, with Macquarie and Royal Bank of Canada setting targets of $380.00 and Barclays raising theirs to $385.00, highlighting a positive outlook for the stock.

Triad Wealth Partners LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,388 shares of the software company's stock, valued at approximately $430,000.

Several other large investors have also recently bought and sold shares of ADSK. SouthState Corp increased its stake in shares of Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after purchasing an additional 80 shares during the period. Costello Asset Management INC acquired a new position in Autodesk in the 1st quarter valued at $26,000. Close Asset Management Ltd bought a new position in Autodesk during the 1st quarter worth $27,000. Cheviot Value Management LLC acquired a new stake in shares of Autodesk during the first quarter worth $27,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Autodesk in the first quarter valued at about $27,000. 90.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ADSK. Macquarie raised their price target on shares of Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Loop Capital began coverage on shares of Autodesk in a report on Monday, July 21st. They set a "hold" rating and a $320.00 target price on the stock. Royal Bank Of Canada boosted their price target on Autodesk from $345.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Barclays raised their price objective on Autodesk from $355.00 to $385.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Finally, Citigroup lifted their price objective on Autodesk from $376.00 to $393.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and a consensus target price of $359.13.

Insider Activity at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president owned 13,311 shares in the company, valued at $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ruth Ann Keene sold 2,761 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the transaction, the executive vice president owned 80,255 shares of the company's stock, valued at $25,288,350.50. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,386 shares of company stock worth $11,433,201 over the last three months. 0.15% of the stock is owned by insiders.

Autodesk Price Performance

Shares of ADSK stock opened at $318.90 on Friday. The business has a fifty day simple moving average of $307.37 and a 200 day simple moving average of $292.69. The company has a market cap of $67.93 billion, a P/E ratio of 66.02, a P/E/G ratio of 2.84 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $329.09.

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.

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