Belpointe Asset Management LLC Purchases Shares of 3,721 Autodesk, Inc. $ADSK

by · The Cerbat Gem

Belpointe Asset Management LLC purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK – Free Report) during the first quarter, Holdings Channel reports. The institutional investor purchased 3,721 shares of the software company’s stock, valued at approximately $974,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management raised its position in shares of Autodesk by 2.5% during the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company’s stock worth $543,000 after acquiring an additional 50 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Autodesk during the 1st quarter worth about $324,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Autodesk by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company’s stock worth $3,565,000 after acquiring an additional 229 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Autodesk by 27.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company’s stock worth $11,212,000 after acquiring an additional 9,222 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Autodesk by 5.4% during the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company’s stock worth $1,471,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. DA Davidson reissued a “buy” rating and set a $375.00 target price on shares of Autodesk in a research report on Friday, August 29th. Mizuho lifted their price target on Autodesk from $350.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Macquarie lifted their price target on Autodesk from $360.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Barclays lifted their price target on Autodesk from $355.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, August 29th. Finally, The Goldman Sachs Group lifted their price target on Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $356.83.

Read Our Latest Stock Report on ADSK

Insiders Place Their Bets

In related news, Director Ayanna Howard sold 3,159 shares of Autodesk stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $325.00, for a total value of $1,026,675.00. Following the sale, the director directly owned 4,393 shares in the company, valued at $1,427,725. The trade was a 41.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ruth Ann Keene sold 2,761 shares of Autodesk 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 completion of the sale, the executive vice president owned 80,255 shares in the company, valued at approximately $25,288,350.50. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,860 shares of company stock valued at $14,045,061 in the last three months. 0.15% of the stock is owned by corporate insiders.

Autodesk Stock Up 0.2%

Autodesk stock opened at $324.52 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $329.09. The company has a market cap of $69.12 billion, a PE ratio of 67.19, a price-to-earnings-growth ratio of 2.87 and a beta of 1.49. The stock’s 50 day moving average price is $300.31 and its 200 day moving average price is $286.42.

Autodesk Company Profile

(Free Report)

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.

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