Equitable Trust Co. Lowers Stake in Autodesk, Inc. (NASDAQ:ADSK)

Equitable Trust Co. lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 48.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,906 shares of the software company’s stock after selling 1,785 shares during the period. Equitable Trust Co.’s holdings in Autodesk were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ADSK. Close Asset Management Ltd purchased a new stake in Autodesk in the first quarter valued at $27,000. Investment Management Corp VA ADV purchased a new stake in Autodesk during the fourth quarter worth about $29,000. Abound Financial LLC purchased a new stake in Autodesk during the first quarter worth about $35,000. AllSquare Wealth Management LLC grew its position in shares of Autodesk by 161.3% in the first quarter. AllSquare Wealth Management LLC now owns 162 shares of the software company’s stock valued at $42,000 after purchasing an additional 100 shares during the last quarter. Finally, Hurley Capital LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at approximately $44,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of ADSK opened at $303.28 on Friday. The company’s 50 day moving average price is $299.29 and its 200 day moving average price is $285.76. Autodesk, Inc. has a 52 week low of $223.03 and a 52 week high of $326.62. The company has a market capitalization of $64.90 billion, a PE ratio of 64.94, a PEG ratio of 2.92 and a beta of 1.44. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction that occurred on 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 directly owned 19,440 shares in the company, valued at $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 9,391 shares of company stock worth $2,909,885 over the last quarter. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ADSK. Citigroup upped their price target on shares of Autodesk from $374.00 to $376.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Bank of America raised their price objective on shares of Autodesk from $290.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Wells Fargo & Company restated an “overweight” rating and issued a $360.00 price target (up from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Stifel Nicolaus lifted their price objective on shares of Autodesk from $310.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Finally, Piper Sandler raised their target price on shares of Autodesk from $357.00 to $361.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $342.61.

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.