IFG Advisory LLC Sells 267 Shares of Autodesk, Inc. (NASDAQ:ADSK)

IFG Advisory LLC decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,783 shares of the software company’s stock after selling 267 shares during the period. IFG Advisory LLC’s holdings in Autodesk were worth $467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADSK. Close Asset Management Ltd purchased a new position in shares of Autodesk during the 1st quarter worth approximately $27,000. Investment Management Corp VA ADV purchased a new position in shares of Autodesk during the 4th quarter worth approximately $29,000. Abound Financial LLC purchased a new stake in shares of Autodesk in the 1st quarter worth approximately $35,000. AllSquare Wealth Management LLC grew its stake in shares of Autodesk by 161.3% in the 1st quarter. AllSquare Wealth Management LLC now owns 162 shares of the software company’s stock worth $42,000 after buying an additional 100 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of Autodesk by 40.7% in the 1st quarter. Meeder Asset Management Inc. now owns 173 shares of the software company’s stock worth $45,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

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

Analysts Set New Price Targets

Several analysts recently weighed in on ADSK shares. Stifel Nicolaus upped their price target on Autodesk from $310.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. KeyCorp restated an “overweight” rating and issued a $350.00 price target (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. BMO Capital Markets upped their price target on Autodesk from $324.00 to $333.00 and gave the stock a “market perform” rating in a research note on Friday, May 23rd. DA Davidson upgraded Autodesk to a “strong-buy” rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group upped their price target on Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $342.61.

Autodesk Price Performance

NASDAQ ADSK opened at $302.50 on Tuesday. The business’s fifty day moving average price is $300.32 and its 200-day moving average price is $286.33. The stock has a market capitalization of $64.74 billion, a price-to-earnings ratio of 64.78, a PEG ratio of 2.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 1-year low of $223.03 and a 1-year high of $326.62.

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.