Autodesk, Inc. $ADSK Shares Bought by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. has significantly increased its stake in Autodesk by 101.2%, purchasing an additional 2,924 shares in the first quarter, bringing its total holdings to 5,814 shares valued at approximately $1.52 million.
• Recent insider activity includes Rebecca Pearce, EVP of Autodesk, selling 3,251 shares for over $1 million, resulting in a 14.33% reduction of her ownership in the company.
• Several research firms have raised their price targets on Autodesk's stock, with Barclays setting a new target of $355, indicating renewed optimism for the company's future performance.

Vestmark Advisory Solutions Inc. lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 101.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,814 shares of the software company's stock after buying an additional 2,924 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Autodesk were worth $1,522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Network Wealth Advisors LLC lifted its position in Autodesk by 34.9% during the first quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock worth $37,000 after buying an additional 37 shares during the period. Oregon Pacific Wealth Management LLC lifted its position in Autodesk by 4.0% during the first quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company's stock worth $262,000 after buying an additional 38 shares during the period. GPS Wealth Strategies Group LLC lifted its position in Autodesk by 30.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company's stock worth $46,000 after buying an additional 41 shares during the period. Johnson Financial Group Inc. lifted its position in Autodesk by 30.2% during the fourth quarter. Johnson Financial Group Inc. now owns 181 shares of the software company's stock worth $56,000 after buying an additional 42 shares during the period. Finally, Sky Investment Group LLC lifted its position in Autodesk by 0.5% during the first quarter. Sky Investment Group LLC now owns 8,338 shares of the software company's stock worth $2,183,000 after buying an additional 42 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ADSK shares. 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 report on Friday, May 16th. BMO Capital Markets raised their price objective on Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a report on Friday, May 23rd. Citigroup raised their price objective on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Macquarie restated an "outperform" rating and issued a $360.00 price objective on shares of Autodesk in a report on Friday, July 11th. Finally, The Goldman Sachs Group raised their price objective on Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $342.61.

Autodesk Stock Down 0.2%

NASDAQ ADSK traded down $0.61 during mid-day trading on Wednesday, reaching $288.63. 1,058,168 shares of the company's stock traded hands, compared to its average volume of 1,592,417. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $326.62. The company has a fifty day simple moving average of $298.64 and a 200-day simple moving average of $285.50. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $61.77 billion, a price-to-earnings ratio of 61.81, a P/E/G ratio of 2.79 and a beta of 1.46.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction that occurred on 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is currently owned by company 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.