Graypoint LLC Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Graypoint LLC grew its stake in Autodesk, Inc. (NASDAQ:ADSK) by 14.6% during the 1st quarter, HoldingsChannel reports. The firm owned 4,511 shares of the software company’s stock after buying an additional 574 shares during the quarter. Graypoint LLC’s holdings in Autodesk were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. increased its holdings in shares of Autodesk by 3.9% in the first quarter. Cullen Frost Bankers Inc. now owns 1,123 shares of the software company’s stock valued at $294,000 after purchasing an additional 42 shares during the period. Parcion Private Wealth LLC acquired a new position in shares of Autodesk in the 1st quarter worth approximately $280,000. Bridgewater Advisors Inc. acquired a new position in Autodesk during the 1st quarter valued at approximately $418,000. Sage Mountain Advisors LLC raised its stake in shares of Autodesk by 10.1% in the 1st quarter. Sage Mountain Advisors LLC now owns 1,140 shares of the software company’s stock worth $298,000 after buying an additional 105 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its position in shares of Autodesk by 20.0% during the first quarter. Wealthfront Advisers LLC now owns 14,409 shares of the software company’s stock worth $3,772,000 after purchasing an additional 2,402 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADSK has been the subject of several recent analyst reports. BMO Capital Markets increased their target price on Autodesk from $324.00 to $333.00 and gave the company a “market perform” rating in a research note on Friday, May 23rd. Oppenheimer reissued an “outperform” rating and issued a $350.00 price target (up previously from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Citigroup boosted their price target on Autodesk from $374.00 to $376.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Bank of America increased their price objective on Autodesk from $290.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Finally, Piper Sandler increased their price objective on shares of Autodesk from $357.00 to $361.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $343.64.

Insider Buying and Selling at Autodesk

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 stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. This represents a 14.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by corporate insiders.

Autodesk Price Performance

ADSK opened at $292.16 on Friday. Autodesk, Inc. has a 12-month low of $223.03 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average price of $298.69 and a 200-day moving average price of $285.59. The stock has a market capitalization of $62.52 billion, a P/E ratio of 62.56, a PEG ratio of 2.78 and a beta of 1.44.

Autodesk Company 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.