Venturi Wealth Management LLC Reduces Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• Venturi Wealth Management LLC reduced its holdings in Autodesk, Inc. by 15.6%, owning 7,284 shares after selling 1,349 shares, valued at approximately $2,255,000.
• Over 90% of Autodesk's stock is currently owned by hedge funds and institutional investors, indicating high institutional interest.
• A number of analysts have rated Autodesk with a consensus "Moderate Buy" and an average target price of $359.13 following various upgrades and price objectives set by different firms.

Venturi Wealth Management LLC cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 15.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,284 shares of the software company's stock after selling 1,349 shares during the period. Venturi Wealth Management LLC's holdings in Autodesk were worth $2,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ADSK. Brighton Jones LLC grew its position in shares of 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 acquiring an additional 147 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Autodesk by 1.7% during the first quarter. Park Avenue Securities LLC now owns 4,191 shares of the software company's stock worth $1,097,000 after acquiring an additional 71 shares during the last quarter. Range Financial Group LLC grew its position in shares of Autodesk by 8.6% during the first quarter. Range Financial Group LLC now owns 1,014 shares of the software company's stock worth $265,000 after acquiring an additional 80 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of Autodesk during the first quarter worth approximately $898,000. Finally, Yousif Capital Management LLC grew its position in shares of Autodesk by 0.5% during the first quarter. Yousif Capital Management LLC now owns 26,112 shares of the software company's stock worth $6,836,000 after acquiring an additional 125 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADSK. Weiss Ratings reiterated a "hold (c+)" rating on shares of Autodesk in a research report on Saturday, September 27th. DA Davidson reiterated a "buy" rating and issued a $375.00 price objective on shares of Autodesk in a research report on Friday, August 29th. Berenberg Bank set a $370.00 price objective on shares of Autodesk in a research report on Monday, September 1st. KeyCorp lifted their price objective on shares of Autodesk from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Finally, Mizuho lifted their price objective on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and an average target price of $359.13.

Autodesk Price Performance

Autodesk stock opened at $314.19 on Wednesday. Autodesk, Inc. has a one year low of $232.67 and a one year high of $329.09. 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 business has a fifty day moving average of $307.90 and a two-hundred day moving average of $293.57. The company has a market cap of $66.92 billion, a P/E ratio of 65.05, a price-to-earnings-growth ratio of 2.87 and a beta of 1.49.

Insiders Place Their Bets

In other Autodesk news, Director Ayanna Howard sold 917 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $325.00, for a total value of $298,025.00. Following the completion of the sale, the director owned 3,476 shares of the company's stock, valued at approximately $1,129,700. This trade represents a 20.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven M. Blum sold 22,420 shares of Autodesk stock in a transaction on Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the transaction, the executive vice president directly owned 13,099 shares of the company's stock, 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. Insiders sold a total of 35,386 shares of company stock worth $11,433,201 in the last ninety days. 0.15% of the stock is owned by insiders.

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.

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