Voya Investment Management LLC Lowers Holdings in Autodesk, Inc. $ADSK

Key Points

• Voya Investment Management LLC has reduced its stake in Autodesk, Inc. by 5.9%, selling 24,229 shares during the first quarter and holding 387,884 shares valued at approximately $101.5 million post-sale.
• Multiple large investors have also modified their positions in Autodesk, indicating a significant institutional interest with 90.24% of the stock currently owned by institutional investors.
• Equity research analysts have recently increased their price targets for Autodesk, with UBS Group setting a new target of $385, reflecting a positive outlook for the company.

Voya Investment Management LLC reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 387,884 shares of the software company's stock after selling 24,229 shares during the period. Voya Investment Management LLC owned 0.18% of Autodesk worth $101,548,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Spire Wealth Management lifted its position in shares of Autodesk by 2.5% during the first quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after purchasing an additional 50 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Autodesk in the first quarter worth about $324,000. Cambridge Investment Research Advisors Inc. raised its position in Autodesk by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock worth $3,565,000 after acquiring an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Autodesk by 27.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after acquiring an additional 9,222 shares during the period. Finally, GAMMA Investing LLC raised its position in Autodesk by 5.4% in the first quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after acquiring an additional 290 shares during the period. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the sale, the executive vice president directly owned 80,255 shares in the company, valued at $25,288,350.50. This represents a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the sale, the director owned 4,393 shares in the company, valued at $1,427,725. This represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,374 shares of company stock valued at $13,899,261. 0.15% of the stock is owned by corporate insiders.

Autodesk Stock Performance

Shares of ADSK stock traded up $3.86 during trading on Thursday, reaching $323.14. 663,777 shares of the company's stock traded hands, compared to its average volume of 1,610,467. The company has a market capitalization of $68.83 billion, a P/E ratio of 67.05, a PEG ratio of 2.82 and a beta of 1.49. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The firm's 50-day moving average is $300.81 and its 200 day moving average is $287.47. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Citigroup lifted 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. Loop Capital assumed coverage on shares of Autodesk in a research report on Monday, July 21st. They issued a "hold" rating and a $320.00 price objective on the stock. Rosenblatt Securities lifted their price objective on shares of Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Barclays lifted their price objective on shares of Autodesk from $355.00 to $385.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $356.83.

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.