First Long Island Investors LLC Reduces Stock Holdings in Autodesk, Inc. $ADSK

First Long Island Investors LLC lowered its position in Autodesk, Inc. (NASDAQ:ADSK) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 841 shares of the software company’s stock after selling 47 shares during the quarter. First Long Island Investors LLC’s holdings in Autodesk were worth $220,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. SouthState Corp boosted its stake in Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after buying an additional 80 shares during the period. Costello Asset Management INC purchased a new position in Autodesk during the first quarter worth about $26,000. Close Asset Management Ltd purchased a new position in Autodesk during the first quarter worth about $27,000. Cheviot Value Management LLC purchased a new position in Autodesk during the first quarter worth about $27,000. Finally, Flaharty Asset Management LLC purchased a new position in Autodesk during the first quarter worth about $27,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Oppenheimer increased their target price on shares of Autodesk from $350.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Citigroup increased their target price on shares of Autodesk from $376.00 to $393.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. DA Davidson reaffirmed a “buy” rating and set a $375.00 target price on shares of Autodesk in a research note on Friday, August 29th. Finally, KeyCorp raised their price objective on shares of Autodesk from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $356.83.

Insider Activity

In related news, EVP Rebecca Pearce sold 6,129 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the sale, the executive vice president owned 13,311 shares of the company’s stock, valued at $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the completion of the sale, the director directly owned 4,393 shares in the company, valued at approximately $1,427,725. This trade represents a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,860 shares of company stock worth $14,045,061 in the last ninety days. 0.15% of the stock is owned by insiders.

Autodesk Trading Up 0.2%

NASDAQ ADSK opened at $324.52 on Friday. The firm has a 50 day simple moving average of $300.31 and a 200-day simple moving average of $286.42. 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 one year low of $232.67 and a one year high of $329.09. The firm has a market cap of $69.12 billion, a price-to-earnings ratio of 67.19, a PEG ratio of 2.87 and a beta of 1.49.

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.