State of Alaska Department of Revenue Has $7.44 Million Stock Position in Autodesk, Inc. $ADSK

State of Alaska Department of Revenue cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 24,043 shares of the software company’s stock after selling 1,150 shares during the quarter. State of Alaska Department of Revenue’s holdings in Autodesk were worth $7,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Patton Fund Management Inc. bought a new position in Autodesk in the second quarter valued at approximately $252,000. ST Germain D J Co. Inc. lifted its holdings in Autodesk by 458.9% in the second quarter. ST Germain D J Co. Inc. now owns 626 shares of the software company’s stock valued at $194,000 after buying an additional 514 shares during the period. New Insight Wealth Advisors acquired a new position in shares of Autodesk during the second quarter valued at about $210,000. Bank Pictet & Cie Europe AG raised its holdings in shares of Autodesk by 11.8% during the second quarter. Bank Pictet & Cie Europe AG now owns 4,732 shares of the software company’s stock valued at $1,465,000 after purchasing an additional 500 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Autodesk by 2,073.9% during the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 11,891 shares of the software company’s stock worth $3,681,000 after acquiring an additional 11,344 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Up 0.8%

ADSK opened at $322.88 on Friday. 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 firm has a 50 day moving average price of $305.46 and a 200-day moving average price of $290.74. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $329.09. The stock has a market capitalization of $68.77 billion, a price-to-earnings ratio of 66.85, a PEG ratio of 2.86 and a beta of 1.49.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADSK. UBS Group upped their price objective on shares of Autodesk from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Robert W. Baird increased their target price on shares of Autodesk from $345.00 to $363.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Morgan Stanley raised their price objective on shares of Autodesk from $370.00 to $385.00 and gave the company an “overweight” rating in a research report on Sunday, August 31st. Macquarie increased their target price on shares of Autodesk from $360.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, Rosenblatt Securities raised their price target on shares of Autodesk from $345.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and an average price target of $356.83.

Insider Activity

In other news, EVP Steven M. Blum sold 22,420 shares of the business’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 transaction, the executive vice president owned 13,099 shares of the company’s stock, valued at approximately $4,240,801.25. The trade was a 63.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the transaction, the director directly owned 4,393 shares in the company, valued at $1,427,725. This trade represents a 41.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,830 shares of company stock valued at $13,123,341. Company 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.