InTrack Investment Management Inc Trims Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

InTrack Investment Management Inc lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 38.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,140 shares of the software company’s stock after selling 1,318 shares during the period. InTrack Investment Management Inc’s holdings in Autodesk were worth $560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock valued at $6,025,331,000 after purchasing an additional 119,034 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Autodesk by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after purchasing an additional 45,623 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Autodesk by 28.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock worth $902,597,000 after buying an additional 667,763 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after buying an additional 2,307,960 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Autodesk by 20.6% during the 4th quarter. Northern Trust Corp now owns 2,462,810 shares of the software company’s stock worth $727,933,000 after buying an additional 420,838 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Activity at Autodesk

In other news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on ADSK. Piper Sandler increased their target price on Autodesk from $357.00 to $361.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. DA Davidson set a $305.00 target price on Autodesk and gave the stock a “neutral” rating in a report on Friday, May 23rd. The Goldman Sachs Group increased their target price on Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $370.00 target price (up previously from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $360.00 target price (up previously from $345.00) on shares of Autodesk in a report on Friday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $337.45.

Autodesk Stock Up 0.1%

ADSK opened at $297.54 on Wednesday. Autodesk, Inc. has a 12 month low of $205.86 and a 12 month high of $326.62. 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 stock has a market cap of $63.67 billion, a P/E ratio of 59.04, a P/E/G ratio of 2.94 and a beta of 1.45. The stock’s 50 day moving average price is $279.08 and its 200 day moving average price is $285.65.

Autodesk 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.