Champlain Investment Partners LLC Reduces Stock Position in Autodesk, Inc. $ADSK

Champlain Investment Partners LLC trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,365 shares of the software company’s stock after selling 12,725 shares during the period. Champlain Investment Partners LLC owned about 0.07% of Autodesk worth $41,984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cheviot Value Management LLC acquired a new position in Autodesk during the first quarter worth $27,000. SouthState Corp grew its holdings in Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company’s stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Autodesk in the fourth quarter valued at $29,000. Costello Asset Management INC acquired a new position in shares of Autodesk during the 1st quarter worth $26,000. Finally, Close Asset Management Ltd purchased a new stake in shares of Autodesk in the 1st quarter worth about $27,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the transaction, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 9,391 shares of company stock valued at $2,909,885 over the last ninety days. 0.15% of the stock is owned by insiders.

Autodesk Stock Up 1.2%

ADSK stock opened at $285.95 on Thursday. The stock has a market capitalization of $61.19 billion, a P/E ratio of 61.23, a PEG ratio of 2.72 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a one year low of $232.67 and a one year high of $326.62. The company has a 50 day moving average price of $297.44 and a two-hundred day moving average price of $284.81.

Analysts Set New Price Targets

Several equities analysts have weighed in on ADSK shares. Morgan Stanley restated an “overweight” rating and set a $370.00 target price (up from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Bank of America increased their price target on shares of Autodesk from $290.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, May 23rd. Rosenblatt Securities restated a “buy” rating and set a $340.00 price objective on shares of Autodesk in a research report on Tuesday, May 20th. DA Davidson raised Autodesk to a “strong-buy” rating in a research note on Tuesday, July 22nd. Finally, Berenberg Bank raised Autodesk from a “hold” rating to a “buy” rating and raised their price target for the stock from $325.00 to $365.00 in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $343.04.

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.