Visualize Group LP Grows Holdings in Autodesk, Inc. $ADSK

Key Points

• Visualize Group LP increased its stake in Autodesk, Inc. by 65.0%, owning 115,734 shares worth approximately $30.3 million, making Autodesk 10.0% of their total portfolio.
• Recent insider trades revealed that two executives sold significant shares of Autodesk stock, with EVP Rebecca Pearce selling 6,129 shares and EVP Ruth Ann Keene selling 2,761 shares.
• Analysts have raised their price targets for Autodesk, with predictions now ranging from $370.00 to $393.00, reflecting a bullish outlook on the stock's performance.

Visualize Group LP raised its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 65.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,734 shares of the software company's stock after purchasing an additional 45,600 shares during the quarter. Autodesk comprises 10.0% of Visualize Group LP's portfolio, making the stock its 5th largest holding. Visualize Group LP owned about 0.05% of Autodesk worth $30,299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp lifted its position in shares of Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Costello Asset Management INC purchased a new stake in shares of Autodesk during the first quarter worth $26,000. Close Asset Management Ltd acquired a new position in Autodesk during the first quarter worth $27,000. Cheviot Value Management LLC acquired a new stake in shares of Autodesk in the first quarter worth $27,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Autodesk in the fourth quarter valued at about $29,000. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of Autodesk stock in a transaction on Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the completion of the sale, the executive vice president directly owned 13,311 shares of the company's stock, valued at approximately $4,300,251.66. The trade was a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of Autodesk stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total transaction of $869,991.10. Following the completion of the sale, the executive vice president directly owned 80,255 shares of the company's stock, valued at approximately $25,288,350.50. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,440 shares of company stock worth $6,786,586 over the last quarter. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada lifted their target price on Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Citigroup boosted their price objective 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. Berenberg Bank set a $370.00 price objective on shares of Autodesk in a research report on Monday, September 1st. Piper Sandler upped their target price on shares of Autodesk from $361.00 to $373.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Finally, Stifel Nicolaus boosted their price target on shares of Autodesk from $350.00 to $375.00 and gave the company a "buy" rating in a 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $356.83.

Autodesk Stock Up 2.0%

Autodesk stock opened at $326.37 on Monday. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.85. The company's 50-day moving average price is $299.25 and its two-hundred day moving average price is $285.32. The stock has a market cap of $69.52 billion, a P/E ratio of 67.57, a P/E/G ratio of 2.89 and a beta of 1.49. 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 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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