Kingswood Wealth Advisors LLC Cuts Holdings in Autodesk, Inc. $ADSK

Kingswood Wealth Advisors LLC lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,904 shares of the software company’s stock after selling 215 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Autodesk were worth $1,209,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Joel Isaacson & Co. LLC raised its holdings in Autodesk by 59.1% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 4,306 shares of the software company’s stock valued at $1,333,000 after buying an additional 1,600 shares during the last quarter. Slow Capital Inc. grew its position in shares of Autodesk by 1.7% in the 2nd quarter. Slow Capital Inc. now owns 29,545 shares of the software company’s stock worth $9,146,000 after buying an additional 498 shares during the period. KLP Kapitalforvaltning AS grew its position in Autodesk by 0.8% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 98,912 shares of the software company’s stock valued at $30,620,000 after purchasing an additional 800 shares during the last quarter. KPP Advisory Services LLC purchased a new stake in Autodesk during the 2nd quarter valued at about $235,000. Finally, Belpointe Asset Management LLC lifted its stake in Autodesk by 6.5% during the 2nd quarter. Belpointe Asset Management LLC now owns 3,963 shares of the software company’s stock valued at $1,227,000 after acquiring an additional 242 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADSK shares. Citigroup increased their price objective 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. Rosenblatt Securities boosted their target price on shares of Autodesk from $345.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, August 29th. KeyCorp raised their target price on shares of Autodesk from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, August 29th. HSBC set a $343.00 target price on shares of Autodesk and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, UBS Group raised their price target on Autodesk from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from 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 $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. The firm has a market cap of $66.92 billion, a P/E ratio of 65.05, a P/E/G ratio of 2.87 and a beta of 1.49. Autodesk, Inc. has a 52 week low of $232.67 and a 52 week high of $329.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91.

Insiders Place Their Bets

In other news, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total transaction 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. This trade represents a 63.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rebecca Pearce sold 6,129 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president owned 13,311 shares in the company, valued at $4,300,251.66. The trade was a 31.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,386 shares of company stock worth $11,433,201. 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.