Vanguard Group Inc. Purchases 397,458 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Vanguard Group Inc. increased its holdings in Autodesk, Inc. by 1.9%, acquiring an additional 397,458 shares, bringing its total ownership to approximately 20.78 million shares, valued at over $5.44 billion.
• Despite the recent sales of shares by executives, 90.24% of Autodesk's stock is held by institutional investors, reflecting significant institutional interest.
• Multiple analyst upgrades have boosted Autodesk's price targets, with estimates now ranging from $335 to $376, indicating a generally positive outlook for the stock.

Vanguard Group Inc. raised its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,782,919 shares of the software company's stock after purchasing an additional 397,458 shares during the period. Vanguard Group Inc. owned about 9.76% of Autodesk worth $5,440,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ADSK. Cheviot Value Management LLC bought a new position in shares of Autodesk in the 1st quarter worth $27,000. Investment Management Corp VA ADV bought a new position in shares of Autodesk in the 4th quarter worth $29,000. Costello Asset Management INC bought a new position in shares of Autodesk in the 1st quarter worth $26,000. Close Asset Management Ltd bought a new position in shares of Autodesk in the 1st quarter worth $27,000. Finally, Abound Financial LLC bought a new position in shares of Autodesk in the 1st quarter worth $35,000. 90.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by insiders.

Autodesk Stock Up 2.0%

Autodesk stock opened at $305.18 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The business's 50-day simple moving average is $300.42 and its two-hundred day simple moving average is $286.55. The company has a market cap of $65.31 billion, a PE ratio of 65.35, a PEG ratio of 2.88 and a beta of 1.46. Autodesk, Inc. has a fifty-two week low of $232.36 and a fifty-two week high of $326.62.

Analysts Set New Price Targets

Several research analysts have recently commented on ADSK shares. Robert W. Baird boosted their price target on Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Citigroup boosted their price target on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $345.00 price target (up from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Morgan Stanley reissued an "overweight" rating and issued a $370.00 price target (up from $330.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, KeyCorp restated an "overweight" rating and set a $350.00 target price (up from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $342.61.

About Autodesk

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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