Autodesk, Inc. $ADSK Shares Purchased by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its position in Autodesk, Inc. by 21.7%, acquiring an additional 9,276 shares during the second quarter, now holding a total of 52,102 shares valued at approximately $16.5 million.
• Analysts are bullish on Autodesk, with an average rating of "Moderate Buy" and an average price target of $356.83, with major analysts setting price objectives as high as $375.
• Insider trading activity revealed significant sales, including a 41.83% decrease in the shareholding of Director Ayanna Howard, who sold 3,159 shares for over $1 million, reflecting ongoing shifts in insider positions.

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 21.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,102 shares of the software company's stock after acquiring an additional 9,276 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Autodesk were worth $16,498,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. OMNI 360 Wealth Inc. acquired a new position in shares of Autodesk during the second quarter valued at approximately $359,000. E. Ohman J or Asset Management AB raised its holdings in shares of Autodesk by 1.8% during the second quarter. E. Ohman J or Asset Management AB now owns 127,126 shares of the software company's stock valued at $39,354,000 after acquiring an additional 2,276 shares during the last quarter. Spire Wealth Management raised its holdings 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 acquiring an additional 50 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Autodesk during the first quarter valued at approximately $324,000. Finally, GK Wealth Management LLC acquired a new position in shares of Autodesk during the second quarter valued at approximately $348,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADSK. Barclays increased their target price on Autodesk from $355.00 to $385.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Loop Capital began coverage on Autodesk in a research note on Monday, July 21st. They set a "hold" rating and a $320.00 price objective on the stock. Rosenblatt Securities boosted their price objective on Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Morgan Stanley boosted their price objective on Autodesk from $370.00 to $385.00 and gave the stock an "overweight" rating in a research note on Sunday, August 31st. Finally, KeyCorp boosted their price objective on Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $356.83.

Insider Transactions at Autodesk

In other news, 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 value of $1,026,675.00. Following the completion of the sale, the director directly owned 4,393 shares of the company's stock, valued at approximately $1,427,725. This represents a 41.83% 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 this hyperlink. Also, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $323.75, for a total value of $7,258,475.00. Following the completion of the sale, the executive vice president directly owned 13,099 shares of the company's stock, valued at $4,240,801.25. The trade was a 63.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,374 shares of company stock valued at $13,899,261 over the last ninety days. 0.15% of the stock is owned by insiders.

Autodesk Stock Up 0.5%

Autodesk stock traded up $1.72 during midday trading on Monday, reaching $324.39. The company's stock had a trading volume of 1,695,559 shares, compared to its average volume of 1,868,720. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. The company has a market cap of $69.10 billion, a P/E ratio of 67.16, a P/E/G ratio of 2.86 and a beta of 1.49. The business has a 50-day simple moving average of $302.39 and a 200-day simple moving average of $288.54.

About Autodesk

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.