Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by DSM Capital Partners LLC

DSM Capital Partners LLC trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.5% in the first quarter, HoldingsChannel reports. The firm owned 460,824 shares of the software company’s stock after selling 71,704 shares during the period. Autodesk makes up 2.1% of DSM Capital Partners LLC’s investment portfolio, making the stock its 17th largest position. DSM Capital Partners LLC’s holdings in Autodesk were worth $120,644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADSK. Brighton Jones LLC raised its position in shares of Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock worth $343,000 after buying an additional 147 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Autodesk by 18.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 30,647 shares of the software company’s stock worth $9,046,000 after buying an additional 4,690 shares in the last quarter. Advisors Capital Management LLC raised its position in shares of Autodesk by 37.8% during the 4th quarter. Advisors Capital Management LLC now owns 1,009 shares of the software company’s stock worth $298,000 after buying an additional 277 shares in the last quarter. Savvy Advisors Inc. bought a new stake in shares of Autodesk during the 4th quarter worth about $201,000. Finally, Mariner LLC raised its position in shares of Autodesk by 3.7% during the 4th quarter. Mariner LLC now owns 27,948 shares of the software company’s stock worth $8,261,000 after buying an additional 1,006 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Performance

ADSK stock opened at $287.01 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $61.42 billion, a price-to-earnings ratio of 61.46, a P/E/G ratio of 2.72 and a beta of 1.46. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $326.62. The firm has a 50 day moving average of $299.47 and a two-hundred day moving average of $286.18.

Analysts Set New Price Targets

ADSK has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Autodesk from $357.00 to $361.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Bank of America boosted their target price on shares of Autodesk from $290.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Macquarie reiterated an “outperform” rating and issued a $360.00 target price on shares of Autodesk in a report on Friday, July 11th. Loop Capital started coverage on shares of Autodesk in a report on Monday, July 21st. They issued a “hold” rating and a $320.00 target price on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $340.00 target price on shares of Autodesk in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and a consensus price target of $342.61.

Insider Activity

In related news, EVP Rebecca Pearce sold 3,251 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the sale, the executive vice president directly owned 19,440 shares of the company’s stock, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by corporate insiders.

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.