Truist Financial Corp Has $43.61 Million Stock Position in Autodesk, Inc. $ADSK

Key Points

• Truist Financial Corp reduced its stake in Autodesk, Inc. by 0.7%, holding 140,876 shares valued at approximately $43.61 million as of the latest SEC filing.
• Several institutional investors, including Brighton Jones LLC and Merit Financial Group LLC, have increased their holdings in Autodesk, indicating a strong interest in the stock.
• Analysts have boosted their price targets for Autodesk significantly, with UBS raising it from $370 to $385 and Royal Bank of Canada from $345 to $380, signaling positive market sentiment.

Truist Financial Corp reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,876 shares of the software company's stock after selling 1,016 shares during the quarter. Truist Financial Corp owned 0.07% of Autodesk worth $43,611,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADSK. Brighton Jones LLC lifted its position in Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after acquiring an additional 147 shares in the last quarter. Merit Financial Group LLC lifted its position in Autodesk by 304.1% in the 1st quarter. Merit Financial Group LLC now owns 6,983 shares of the software company's stock valued at $1,828,000 after acquiring an additional 5,255 shares in the last quarter. HF Advisory Group LLC lifted its position in Autodesk by 43.4% in the 1st quarter. HF Advisory Group LLC now owns 3,957 shares of the software company's stock valued at $1,036,000 after acquiring an additional 1,197 shares in the last quarter. E. Ohman J or Asset Management AB lifted its position in Autodesk by 6.4% in the 1st quarter. E. Ohman J or Asset Management AB now owns 124,850 shares of the software company's stock valued at $32,686,000 after acquiring an additional 7,562 shares in the last quarter. Finally, Procyon Advisors LLC lifted its position in Autodesk by 6.8% in the 1st quarter. Procyon Advisors LLC now owns 24,954 shares of the software company's stock valued at $6,533,000 after acquiring an additional 1,583 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Autodesk from $370.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Royal Bank Of Canada increased their price objective on shares of Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Wall Street Zen downgraded shares of Autodesk from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 28th. Macquarie increased their price objective on shares of Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Morgan Stanley increased their price objective on shares of Autodesk from $370.00 to $385.00 and gave the stock an "overweight" rating in a research note on Sunday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $359.13.

Autodesk Stock Up 1.6%

Shares of ADSK stock opened at $320.91 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. The firm's 50-day moving average is $307.06 and its 200-day moving average is $292.28. The stock has a market cap of $68.35 billion, a price-to-earnings ratio of 66.44, a PEG ratio of 2.80 and a beta of 1.49. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $329.09.

Insider Activity

In other Autodesk news, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the transaction, the executive vice president directly owned 80,255 shares of the company's stock, valued at $25,288,350.50. This represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the completion of the transaction, the executive vice president directly owned 13,099 shares in the company, valued at approximately $4,240,801.25. This represents a 63.12% 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 valued at $11,433,201 in the last 90 days. 0.15% of the stock is owned by company insiders.

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.

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