Shell Asset Management Co. Purchases 3,779 Shares of Autodesk, Inc. $ADSK

Shell Asset Management Co. grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 32.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,285 shares of the software company’s stock after buying an additional 3,779 shares during the quarter. Shell Asset Management Co.’s holdings in Autodesk were worth $4,732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SouthState Corp boosted its stake in shares of Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Costello Asset Management INC bought a new stake in Autodesk during the 1st quarter valued at about $26,000. Close Asset Management Ltd bought a new stake in Autodesk during the 1st quarter valued at about $27,000. Cheviot Value Management LLC purchased a new stake in Autodesk in the 1st quarter valued at about $27,000. Finally, Flaharty Asset Management LLC bought a new position in Autodesk in the 1st quarter worth about $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Down 2.9%

Shares of Autodesk stock opened at $314.19 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. The company has a market cap of $66.92 billion, a P/E ratio of 65.05, a PEG ratio of 2.87 and a beta of 1.49. The firm’s 50 day moving average price is $307.90 and its 200-day moving average price is $293.57. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $329.09.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley boosted their price target on Autodesk from $370.00 to $385.00 and gave the company an “overweight” rating in a report on Sunday, August 31st. Robert W. Baird upped their target price on Autodesk from $345.00 to $363.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Oppenheimer lifted their price objective on Autodesk from $350.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Mizuho increased their target price on shares of Autodesk from $350.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Citigroup raised their target price on shares of Autodesk from $376.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $359.13.

Insiders Place Their Bets

In other news, EVP Ruth Ann Keene sold 2,761 shares of Autodesk stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total transaction of $869,991.10. Following the completion of the sale, the executive vice president directly owned 80,255 shares in the company, valued at approximately $25,288,350.50. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven M. Blum sold 22,420 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $323.75, for a total value of $7,258,475.00. Following the completion of the transaction, the executive vice president directly owned 13,099 shares in the company, valued at approximately $4,240,801.25. The trade was a 63.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,386 shares of company stock worth $11,433,201 in the last three months. 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.