KLP Kapitalforvaltning AS Boosts Stock Holdings in Autodesk, Inc. $ADSK

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SouthState Corp boosted its holdings in shares of Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after buying an additional 80 shares during the last quarter. Costello Asset Management INC purchased a new position in shares of Autodesk in the 1st quarter worth about $26,000. Close Asset Management Ltd purchased a new position in shares of Autodesk in the 1st quarter worth about $27,000. Cheviot Value Management LLC purchased a new position in shares of Autodesk in the 1st quarter worth about $27,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Autodesk in the 1st quarter worth about $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Down 2.9%

Shares of ADSK opened at $314.19 on Wednesday. The business’s 50-day moving average price is $307.90 and its 200-day moving average price is $293.57. Autodesk, Inc. has a twelve month low of $232.67 and a twelve month high of $329.09. The stock has a market cap of $66.92 billion, a PE ratio of 65.05, a P/E/G ratio of 2.87 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays boosted their price target on shares of Autodesk from $355.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Autodesk in a report on Saturday, September 27th. Wall Street Zen downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. Hsbc Global Res raised shares of Autodesk from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Loop Capital began coverage on shares of Autodesk in a report on Monday, July 21st. They set a “hold” rating and a $320.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $359.13.

Insider Buying and Selling

In related news, EVP Ruth Ann Keene sold 2,761 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the transaction, the executive vice president directly owned 80,255 shares in the company, valued at approximately $25,288,350.50. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was 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. This trade represents a 31.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,386 shares of company stock valued at $11,433,201. Corporate 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.