Truist Financial Corp Lowers Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Truist Financial Corp lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 141,892 shares of the software company's stock after selling 7,932 shares during the period. Truist Financial Corp owned 0.07% of Autodesk worth $37,147,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADSK. Mizuho decreased their price target on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. DA Davidson raised Autodesk from a "neutral" rating to a "buy" rating and upped their price target for the company from $305.00 to $375.00 in a research note on Monday. Robert W. Baird increased their target price on Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. The Goldman Sachs Group increased their target price on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $345.00 target price (up previously from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $343.64.

Autodesk Stock Down 0.4%

Autodesk stock traded down $1.35 during mid-day trading on Monday, hitting $315.31. The company had a trading volume of 1,409,645 shares, compared to its average volume of 1,483,079. The stock has a market cap of $67.48 billion, a price-to-earnings ratio of 67.52, a PEG ratio of 3.05 and a beta of 1.44. Autodesk, Inc. has a 1 year low of $223.03 and a 1 year high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $295.40 and a 200 day moving average of $285.56.

Insider Buying and Selling

In related news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was 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. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 9,391 shares of company stock valued at $2,909,885 in the last 90 days. Corporate insiders own 0.15% of the company's stock.

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.