Janney Montgomery Scott LLC Sells 16,083 Shares of Autodesk, Inc. $ADSK

Janney Montgomery Scott LLC trimmed its position in Autodesk, Inc. (NASDAQ:ADSK) by 16.9% during the second quarter, HoldingsChannel.com reports. The fund owned 79,280 shares of the software company’s stock after selling 16,083 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Autodesk were worth $24,543,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company’s stock valued at $5,440,968,000 after acquiring an additional 397,458 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Autodesk by 1.6% during the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company’s stock worth $1,347,400,000 after buying an additional 79,900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Autodesk by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company’s stock worth $904,326,000 after buying an additional 400,514 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Autodesk by 44.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company’s stock worth $868,736,000 after buying an additional 1,016,187 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Autodesk by 4.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company’s stock worth $785,470,000 after buying an additional 124,948 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on ADSK shares. Loop Capital started coverage on shares of Autodesk in a research note on Monday, July 21st. They set a “hold” rating and a $320.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Autodesk from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Robert W. Baird boosted 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. Piper Sandler boosted their target price on shares of Autodesk from $361.00 to $373.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Finally, Barclays boosted their target price on shares of Autodesk from $355.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $359.13.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $315.73 on Thursday. The firm has a market cap of $67.25 billion, a PE ratio of 65.37, a price-to-earnings-growth ratio of 2.81 and a beta of 1.49. The firm’s fifty day moving average is $306.66 and its 200-day moving average is $291.87. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09.

Insider Activity

In related 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 in the company, valued at $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 is available at this hyperlink. Also, EVP Rebecca Pearce sold 6,129 shares of the business’s 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 completion of the transaction, the executive vice president owned 13,311 shares in the company, valued at approximately $4,300,251.66. The trade was a 31.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,386 shares of company stock worth $11,433,201 in the last three months. Corporate insiders own 0.15% of the company’s stock.

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.