WESPAC Advisors LLC Acquires New Position in Autodesk, Inc. $ADSK

Key Points

• WESPAC Advisors LLC acquired a new position in Autodesk, Inc., purchasing 1,116 shares valued at approximately $345,000 during the second quarter.
• Numerous institutional investors, including Vanguard Group and T. Rowe Price, have increased their holdings in Autodesk, contributing to over 90% institutional ownership of the company's stock.
• Analyst ratings for Autodesk have been positive, with most analysts issuing buy ratings and a consensus price target of $359.13.

WESPAC Advisors LLC acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,116 shares of the software company's stock, valued at approximately $345,000.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock valued at $5,440,968,000 after purchasing an additional 397,458 shares in the last quarter. Ninety One UK Ltd grew its holdings in shares of Autodesk by 3.7% in the second quarter. Ninety One UK Ltd now owns 5,338,125 shares of the software company's stock valued at $1,652,523,000 after purchasing an additional 191,448 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Autodesk by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock valued at $904,326,000 after purchasing an additional 400,514 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Autodesk by 44.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock valued at $868,736,000 after purchasing an additional 1,016,187 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Autodesk by 4.3% in the first 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 in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $380.00 price objective on shares of Autodesk in a report on Monday. Robert W. Baird lifted their price target on shares of Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. UBS Group lifted their price target on shares of Autodesk from $370.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Stifel Nicolaus lifted their price target on shares of Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Barclays lifted their price target on shares of Autodesk from $355.00 to $385.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $359.13.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 6,129 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the completion of the sale, the executive vice president owned 13,311 shares in the company, valued at approximately $4,300,251.66. The trade was a 31.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven M. Blum sold 22,420 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the sale, the executive vice president owned 13,099 shares of the company's stock, valued at $4,240,801.25. This represents a 63.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,386 shares of company stock worth $11,433,201 over the last 90 days. 0.15% of the stock is owned by corporate insiders.

Autodesk Stock Down 2.9%

Shares of NASDAQ:ADSK opened at $314.19 on Wednesday. The company has a market capitalization of $66.92 billion, a PE ratio of 65.05, a P/E/G ratio of 2.87 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. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $329.09. The firm has a 50 day simple moving average of $307.90 and a 200-day simple moving average of $293.57.

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.

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