Truist Financial Corp Sells 7,932 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Truist Financial Corp lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,892 shares of the software company's stock after selling 7,932 shares during the period. Truist Financial Corp owned about 0.07% of Autodesk worth $37,147,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ADSK. Brighton Jones LLC increased its stake in shares of Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock worth $343,000 after purchasing an additional 147 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Autodesk in the fourth quarter worth $202,000. Cullen Frost Bankers Inc. increased its position in Autodesk by 3.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,081 shares of the software company's stock worth $320,000 after buying an additional 39 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Autodesk in the fourth quarter valued at $116,828,000. Finally, Callan Family Office LLC purchased a new position in shares of Autodesk during the 4th quarter valued at $922,000. Institutional investors own 90.24% of the company's stock.

Autodesk Trading Up 1.7%

Shares of ADSK opened at $315.76 on Monday. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year high of $326.62. The company has a market capitalization of $67.57 billion, a P/E ratio of 67.61, a P/E/G ratio of 3.05 and a beta of 1.44. 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 firm's 50 day simple moving average is $295.40 and its 200 day simple moving average is $285.56.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of the firm'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 sale, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADSK has been the subject of several recent research reports. Scotiabank lowered their price objective on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Morgan Stanley reiterated an "overweight" rating and issued a $370.00 target price (up previously from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Robert W. Baird upped their price target 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. Citigroup raised their price objective on shares of Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Bank of America boosted their target price on shares of Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $340.45.

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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