Union Bancaire Privee UBP SA Buys 10,504 Shares of Autodesk, Inc. $ADSK

Key Points

• Union Bancaire Privee UBP SA increased its stake in Autodesk, Inc. by 65.1%, acquiring an additional 10,504 shares, bringing its total holdings to 26,628 shares valued at approximately $8.24 million.
• Recent analyst ratings reflect mixed sentiments, with Wall Street Zen downgrading Autodesk from "strong-buy" to "buy," while firms like Macquarie and Citigroup have raised price targets to $380 and $393 respectively.
• Insider selling activity has been significant, with executives selling over 37,720 shares worth approximately $12.16 million in recent months, indicating a notable decrease in their ownership percentages.

Union Bancaire Privee UBP SA grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 65.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,628 shares of the software company's stock after buying an additional 10,504 shares during the period. Union Bancaire Privee UBP SA's holdings in Autodesk were worth $8,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SouthState Corp raised its position in shares of Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after buying an additional 80 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Autodesk during the first quarter valued at approximately $26,000. Close Asset Management Ltd bought a new stake in shares of Autodesk during the first quarter valued at approximately $27,000. Cheviot Value Management LLC bought a new stake in shares of Autodesk during the first quarter valued at approximately $27,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Autodesk during the first quarter valued at approximately $27,000. Institutional investors own 90.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ADSK shares. Wall Street Zen cut shares of Autodesk from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Macquarie boosted 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 research report on Monday, July 21st. They issued a "hold" rating and a $320.00 price target on the stock. Citigroup boosted their price target on shares of Autodesk from $376.00 to $393.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Finally, Oppenheimer boosted their price target on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $356.83.

Insider Activity

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the transaction, the executive vice president owned 13,311 shares in the company, valued at $4,300,251.66. The trade was a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven M. Blum sold 22,420 shares of the business's stock in a transaction on 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 transaction, the executive vice president owned 13,099 shares in the company, valued at $4,240,801.25. This trade represents a 63.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,720 shares of company stock worth $12,159,241. 0.15% of the stock is currently owned by insiders.

Autodesk Trading Down 0.3%

ADSK stock opened at $322.03 on Tuesday. 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. The stock has a market capitalization of $68.59 billion, a price-to-earnings ratio of 66.67, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The firm's fifty day simple moving average is $306.00 and its two-hundred day simple moving average is $291.52.

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.

Want to see what other hedge funds are holding ADSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autodesk, Inc. (NASDAQ:ADSK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.