IFP Advisors Inc Sells 44 Shares of Autodesk, Inc. (NASDAQ:ADSK)

IFP Advisors Inc reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,062 shares of the software company’s stock after selling 44 shares during the period. IFP Advisors Inc’s holdings in Autodesk were worth $542,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV acquired a new stake in shares of Autodesk during the fourth quarter worth $29,000. Abound Financial LLC bought a new position in shares of Autodesk during the first quarter worth about $35,000. Hurley Capital LLC acquired a new position in Autodesk during the 4th quarter worth approximately $44,000. CoreCap Advisors LLC boosted its position in Autodesk by 212.0% during the 4th quarter. CoreCap Advisors LLC now owns 156 shares of the software company’s stock worth $46,000 after acquiring an additional 106 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of Autodesk by 30.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company’s stock worth $46,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of analyst reports. KeyCorp reiterated an “overweight” rating and set a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Stifel Nicolaus boosted their target price on Autodesk from $310.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. The Goldman Sachs Group raised their price target on Autodesk from $270.00 to $300.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Loop Capital began coverage on shares of Autodesk in a research report on Monday. They set a “hold” rating and a $320.00 price objective for the company. Finally, Barclays increased their price objective on shares of Autodesk from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $342.61.

Insiders Place Their Bets

In related news, EVP Rebecca Pearce sold 3,251 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the transaction, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. This represents a 14.33% 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. In the last 90 days, insiders sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is owned by corporate insiders.

Autodesk Stock Up 0.0%

Shares of NASDAQ:ADSK opened at $301.10 on Friday. The company has a market cap of $64.44 billion, a price-to-earnings ratio of 64.48, a PEG ratio of 2.90 and a beta of 1.44. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The firm has a fifty day moving average price of $299.19 and a two-hundred day moving average price of $285.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

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.