Sabal Trust CO Trims Stake in Autodesk, Inc. (NASDAQ:ADSK)

Sabal Trust CO lessened its position in Autodesk, Inc. (NASDAQ:ADSK) by 45.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,086 shares of the software company’s stock after selling 5,008 shares during the quarter. Sabal Trust CO’s holdings in Autodesk were worth $1,593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ADSK. Investment Management Corp VA ADV purchased a new position in Autodesk during the fourth quarter valued at $29,000. Mizuho Securities Co. Ltd. bought a new position in shares of Autodesk in the 4th quarter worth about $30,000. Addison Advisors LLC lifted its position in Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after acquiring an additional 74 shares during the period. Hurley Capital LLC purchased a new position in Autodesk during the 4th quarter valued at about $44,000. Finally, CoreCap Advisors LLC boosted its stake in Autodesk by 212.0% during the fourth quarter. CoreCap Advisors LLC now owns 156 shares of the software company’s stock worth $46,000 after acquiring an additional 106 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Performance

Shares of ADSK stock opened at $302.37 on Thursday. The company has a 50 day moving average price of $288.75 and a 200-day moving average price of $285.44. Autodesk, Inc. has a 52 week low of $223.03 and a 52 week high of $326.62. The firm has a market capitalization of $64.71 billion, a PE ratio of 64.75, a P/E/G ratio of 2.93 and a beta of 1.45. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADSK. UBS Group raised their target price on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Scotiabank reduced their price objective on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group boosted 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 reissued an “overweight” rating and issued a $370.00 target price (up from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. Finally, Barclays raised their price target on Autodesk from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.45.

Insider Activity at Autodesk

In related news, CAO Stephen W. Hope sold 2,452 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This represents a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rebecca Pearce sold 2,544 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $305.00, for a total value of $775,920.00. Following the completion of the transaction, the executive vice president now directly owns 25,801 shares in the company, valued at $7,869,305. The trade was a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,539 shares of company stock worth $1,592,002 over the last quarter. Company insiders own 0.15% of the company’s stock.

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.