Congress Asset Management Co. Has $1.89 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Congress Asset Management Co. decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 5.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,205 shares of the software company’s stock after selling 387 shares during the period. Congress Asset Management Co.’s holdings in Autodesk were worth $1,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ADSK. Brighton Jones LLC raised its stake in Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock worth $343,000 after purchasing an additional 147 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Autodesk in the 4th quarter worth about $13,906,000. Stratos Wealth Partners LTD. raised its stake in Autodesk by 4.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,281 shares of the software company’s stock worth $379,000 after purchasing an additional 59 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Autodesk by 1.3% in the 4th quarter. Bleakley Financial Group LLC now owns 3,559 shares of the software company’s stock worth $1,052,000 after purchasing an additional 47 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in Autodesk in the 4th quarter worth about $2,973,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Buying and Selling

In other Autodesk news, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $534,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Autodesk Price Performance

ADSK stock opened at $297.86 on Monday. The company has a 50 day simple moving average of $277.69 and a 200 day simple moving average of $285.74. The stock has a market cap of $63.74 billion, a price-to-earnings ratio of 59.10, a P/E/G ratio of 2.94 and a beta of 1.45. Autodesk, Inc. has a 1 year low of $205.86 and a 1 year 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.

Analyst Ratings Changes

Several analysts have weighed in on ADSK shares. Macquarie reiterated an “outperform” rating and issued a $360.00 price objective on shares of Autodesk in a research note on Friday, February 28th. Barclays boosted their target price on shares of Autodesk from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. BMO Capital Markets boosted their target price on shares of Autodesk from $324.00 to $333.00 and gave the company a “market perform” rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. dropped their target price on shares of Autodesk from $300.00 to $280.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Finally, Piper Sandler boosted their target price on shares of Autodesk from $357.00 to $361.00 and gave the company an “overweight” rating in a research report on Tuesday, May 27th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $337.45.

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.