Aberdeen Group plc Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

Aberdeen Group plc cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 57.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,306 shares of the software company’s stock after selling 426,881 shares during the quarter. Aberdeen Group plc’s holdings in Autodesk were worth $81,555,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. SouthState Corp grew its position in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after purchasing an additional 80 shares during the period. Costello Asset Management INC acquired a new stake in Autodesk during the 1st quarter worth about $26,000. Close Asset Management Ltd acquired a new stake in Autodesk during the 1st quarter worth about $27,000. Cheviot Value Management LLC acquired a new stake in Autodesk during the 1st quarter worth about $27,000. Finally, Investment Management Corp VA ADV acquired a new stake in Autodesk during the 4th quarter worth about $29,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADSK has been the topic of several analyst reports. Citigroup increased their price target on Autodesk from $374.00 to $376.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $360.00 price target (up from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Barclays increased their price target on Autodesk from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price target (up from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Berenberg Bank raised shares of Autodesk from a “hold” rating to a “buy” rating and increased their target price for the stock from $325.00 to $365.00 in a research note on Friday, June 27th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $342.61.

Autodesk Trading Up 1.1%

Shares of Autodesk stock opened at $286.73 on Friday. The firm has a market capitalization of $61.36 billion, a PE ratio of 61.40, a P/E/G ratio of 2.73 and a beta of 1.46. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $326.62. The firm’s 50-day moving average price is $298.96 and its 200 day moving average price is $285.92. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is currently owned by corporate insiders.

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.