Autodesk, Inc. $ADSK Holdings Cut by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in Autodesk, Inc. by 10.1%, selling 30,168 shares and holding approximately 267,749 shares worth $70.1 million as of the last quarter.
• Multiple institutional investors have increased their positions in Autodesk, with notable increases including a 422.6% rise in Voya Investment Management LLC's stake during the fourth quarter.
• Analysts have a consensus rating of "Moderate Buy" for Autodesk, with price targets ranging from $320.00 to $370.00, reflecting optimistic future growth prospects.

Wellington Management Group LLP lowered its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,749 shares of the software company's stock after selling 30,168 shares during the quarter. Wellington Management Group LLP owned 0.13% of Autodesk worth $70,097,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SouthState Corp raised its stake in shares of Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of Autodesk in the 1st quarter valued at about $26,000. Close Asset Management Ltd acquired a new stake in shares of Autodesk in the 1st quarter valued at about $27,000. Cheviot Value Management LLC acquired a new stake in shares of Autodesk in the 1st quarter valued at about $27,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Autodesk in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Buying and Selling

In related news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This 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. Insiders have sold 9,391 shares of company stock worth $2,909,885 over the last ninety days. 0.15% of the stock is owned by corporate insiders.

Autodesk Price Performance

Shares of Autodesk stock traded up $4.66 on Thursday, hitting $290.61. The company had a trading volume of 487,657 shares, compared to its average volume of 1,578,139. The business has a 50-day simple moving average of $297.44 and a 200-day simple moving average of $284.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $62.19 billion, a PE ratio of 62.14, a PEG ratio of 2.72 and a beta of 1.46. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $326.62.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADSK. Oppenheimer restated an "outperform" rating and issued a $350.00 target price (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Bank of America upped their target price on shares of Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and issued a $370.00 target price (up previously from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Robert W. Baird increased their price objective on shares of Autodesk from $335.00 to $345.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Finally, Berenberg Bank upgraded shares of Autodesk from a "hold" rating to a "buy" rating and increased their price objective for the stock from $325.00 to $365.00 in a research note on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $343.04.

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.