Victory Capital Management Inc. Sells 5,423 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Victory Capital Management Inc. decreased its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 309,583 shares of the software company's stock after selling 5,423 shares during the period. Victory Capital Management Inc. owned 0.15% of Autodesk worth $81,049,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Bridgewater Advisors Inc. acquired a new position in shares of Autodesk during the 1st quarter valued at $418,000. Sage Mountain Advisors LLC increased its position in shares of Autodesk by 10.1% during the 1st quarter. Sage Mountain Advisors LLC now owns 1,140 shares of the software company's stock valued at $298,000 after purchasing an additional 105 shares during the period. Wealthfront Advisers LLC increased its position in shares of Autodesk by 20.0% during the 1st quarter. Wealthfront Advisers LLC now owns 14,409 shares of the software company's stock valued at $3,772,000 after purchasing an additional 2,402 shares during the period. Sage Private Wealth Group LLC increased its position in shares of Autodesk by 6.0% during the 1st quarter. Sage Private Wealth Group LLC now owns 780 shares of the software company's stock valued at $204,000 after purchasing an additional 44 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Autodesk by 4.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock valued at $785,470,000 after purchasing an additional 124,948 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were 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 directly owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is owned by corporate insiders.

Autodesk Trading Up 1.7%

Shares of Autodesk stock traded up $4.87 on Friday, hitting $297.03. 2,421,067 shares of the company's stock traded hands, compared to its average volume of 1,527,907. The firm's 50-day moving average price is $298.88 and its two-hundred day moving average price is $285.48. The stock has a market capitalization of $63.56 billion, a PE ratio of 63.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ADSK shares. JPMorgan Chase & Co. reduced their price objective on Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $350.00 target price (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Citigroup raised their target price on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $360.00 target price (up previously from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Berenberg Bank raised Autodesk from a "hold" rating to a "buy" rating and raised their target price for the stock from $325.00 to $365.00 in a research report on Friday, June 27th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $343.64.

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.