KLP Kapitalforvaltning AS Has $30.62 Million Stock Holdings in Autodesk, Inc. $ADSK

KLP Kapitalforvaltning AS increased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,912 shares of the software company’s stock after buying an additional 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Autodesk were worth $30,620,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cheviot Value Management LLC acquired a new stake in Autodesk during the 1st quarter worth approximately $27,000. SouthState Corp raised its holdings in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Livelsberger Financial Advisory bought a new position in Autodesk during the 2nd quarter worth approximately $31,000. Costello Asset Management INC bought a new position in Autodesk during the 1st quarter worth approximately $26,000. Finally, Hilltop National Bank bought a new position in Autodesk during the 2nd quarter worth approximately $31,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Performance

Shares of ADSK stock opened at $314.19 on Wednesday. The firm has a market capitalization of $66.92 billion, a PE ratio of 65.05, a price-to-earnings-growth ratio of 2.87 and a beta of 1.49. The firm has a fifty day simple moving average of $307.90 and a two-hundred day simple moving average of $293.57. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $329.09.

Analyst Upgrades and Downgrades

ADSK has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Autodesk from $370.00 to $385.00 and gave the stock an “overweight” rating in a report on Sunday, August 31st. 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. HSBC set a $343.00 price target on shares of Autodesk and gave the stock a “buy” rating in a report on Wednesday, October 1st. Macquarie raised their price target on shares of Autodesk from $360.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Mizuho lifted their price objective on shares of Autodesk from $350.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $359.13.

Insider Activity

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of Autodesk stock in a transaction on Friday, August 29th. The shares were sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the transaction, the executive vice president directly owned 13,311 shares of the company’s stock, valued at $4,300,251.66. The trade was a 31.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ayanna Howard sold 3,159 shares of Autodesk 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 transaction, the director directly owned 4,393 shares in the company, valued at $1,427,725. This represents a 41.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,386 shares of company stock valued at $11,433,201 over the last quarter. 0.15% of the stock is owned by insiders.

Autodesk Company 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.