DAVENPORT & Co LLC Sells 120,490 Shares of Autodesk, Inc. (NASDAQ:ADSK)

DAVENPORT & Co LLC cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 85.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,836 shares of the software company’s stock after selling 120,490 shares during the period. DAVENPORT & Co LLC’s holdings in Autodesk were worth $5,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of 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 acquiring an additional 147 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Autodesk by 41.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,815 shares of the software company’s stock worth $1,423,000 after purchasing an additional 1,418 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Autodesk during the fourth quarter worth approximately $332,000. Steward Partners Investment Advisory LLC increased its holdings in Autodesk by 3.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 16,229 shares of the software company’s stock worth $4,797,000 after purchasing an additional 553 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Autodesk by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,345,471 shares of the software company’s stock valued at $397,681,000 after buying an additional 46,777 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADSK shares. Piper Sandler raised their price objective 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. Stifel Nicolaus raised their price target on shares of Autodesk from $310.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $345.00 price target (up from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. The Goldman Sachs Group upped their price objective on shares of Autodesk from $270.00 to $300.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Finally, Robert W. Baird raised their target price on Autodesk from $303.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $340.45.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $315.76 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $67.57 billion, a PE ratio of 67.61, a price-to-earnings-growth ratio of 2.99 and a beta of 1.44. The stock’s fifty day simple moving average is $294.48 and its two-hundred day simple moving average is $285.58. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year high of $326.62.

Insiders Place Their Bets

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the sale, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 9,391 shares of company stock worth $2,909,885 in the last 90 days. 0.15% of the stock is currently owned by 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.