Truist Financial Corp Sells 1,016 Shares of Autodesk, Inc. $ADSK

Truist Financial Corp reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 0.7% during the 2nd quarter, Holdings Channel reports. The fund owned 140,876 shares of the software company’s stock after selling 1,016 shares during the period. Truist Financial Corp’s holdings in Autodesk were worth $43,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Union Bancaire Privee UBP SA grew its position in shares of Autodesk by 65.1% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 26,628 shares of the software company’s stock worth $8,243,000 after purchasing an additional 10,504 shares in the last quarter. Mainsail Financial Group LLC grew its position in shares of Autodesk by 4.5% during the 2nd quarter. Mainsail Financial Group LLC now owns 5,790 shares of the software company’s stock worth $1,673,000 after purchasing an additional 248 shares in the last quarter. Capital Investment Advisors LLC acquired a new position in shares of Autodesk during the 2nd quarter worth approximately $485,000. HB Wealth Management LLC grew its position in shares of Autodesk by 1.1% during the 2nd quarter. HB Wealth Management LLC now owns 6,865 shares of the software company’s stock worth $2,125,000 after purchasing an additional 73 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC grew its position in shares of Autodesk by 8.7% during the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 4,200 shares of the software company’s stock worth $1,300,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the topic of a number of analyst reports. Bank of America increased their target price on shares of Autodesk from $330.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Wall Street Zen lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. Loop Capital assumed coverage on shares of Autodesk in a research report on Monday, July 21st. They set a “hold” rating and a $320.00 price target on the stock. Macquarie increased their price target on shares of Autodesk from $360.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Finally, Stifel Nicolaus increased their price target on shares of Autodesk from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $359.13.

Insider Activity at Autodesk

In other Autodesk news, Director Ayanna Howard sold 917 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $325.00, for a total value of $298,025.00. Following the sale, the director owned 3,476 shares in the company, valued at $1,129,700. This trade represents a 20.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven M. Blum sold 22,420 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the completion of the sale, the executive vice president owned 13,099 shares in the company, valued at $4,240,801.25. This represents a 63.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,386 shares of company stock worth $11,433,201. Corporate insiders own 0.15% of the company’s stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $320.91 on Friday. Autodesk, Inc. has a fifty-two week low of $232.67 and a fifty-two week high of $329.09. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $68.35 billion, a P/E ratio of 66.44, a P/E/G ratio of 2.80 and a beta of 1.49. The company’s 50 day moving average price is $307.06 and its two-hundred day moving average price is $292.28.

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.