Silvant Capital Management Boosts Stake in Autodesk Shares

Silvant Capital Management LLC has increased its investment in Autodesk, Inc. (NASDAQ: ADSK) by 0.7%, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 107,387 shares of the software company, having added 713 shares during the second quarter of 2023. This makes Autodesk 1.3% of Silvant’s portfolio, ranking it as the firm’s 16th largest holding.

At the close of the most recent reporting period, Silvant’s stake in Autodesk was valued at approximately $33.2 million. Other institutional investors have also adjusted their positions in Autodesk recently. Notably, Vanguard Group Inc. raised its holdings by 0.9% in the second quarter, bringing its total to 20,963,515 shares valued at $6.49 billion after acquiring an additional 180,596 shares.

Geode Capital Management LLC significantly boosted its position in Autodesk by 15.1%, now owning 5,606,264 shares worth around $1.73 billion. Similarly, Ninety One UK Ltd increased its stake by 3.7%, owning 5,338,125 shares valued at approximately $1.65 billion.

UBS Asset Management also made notable adjustments, raising its holdings by 13.1% in the first quarter, now owning 3,454,264 shares valued at $904 million. T. Rowe Price Investment Management Inc. raised its stake by a remarkable 44.1% in the same period, taking its total to 3,318,319 shares valued at $868 million. Collectively, institutional investors and hedge funds own 90.24% of Autodesk’s stock.

Current Trading Performance and Analyst Outlook

Shares of Autodesk opened at $301.38 on Friday. Over the last year, the stock has fluctuated between a low of $232.67 and a high of $329.09. The company boasts a market capitalization of $64.19 billion and has a price-to-earnings (P/E) ratio of 62.40, indicating investor confidence despite market volatility.

Several analysts have recently updated their projections for Autodesk. Oppenheimer raised its price target from $350.00 to $375.00 with an “outperform” rating. Royal Bank of Canada echoed this sentiment, reissuing an “outperform” rating and setting a price target at $380.00. UBS Group maintains a “buy” rating with a price objective of $400.00, while HSBC set a target price of $343.00 and rated the stock as a “buy.”

The overall consensus among analysts indicates a “Moderate Buy” rating for Autodesk, with an average target price of $364.24. This reflects a strong belief in the company’s potential for future growth, supported by a combination of robust institutional backing and positive market sentiment.

Insider Transactions and Company Overview

In recent insider trading, Autodesk’s Executive Vice President, Ruth Ann Keene, sold 2,761 shares on September 3, 2023, at an average price of $315.10, totaling nearly $870,000. Following this transaction, Keene retains 80,255 shares valued at approximately $25.3 million, marking a 3.33% decrease in her position.

Additionally, Director Ayanna Howard sold 917 shares on September 29, 2023, for around $298,025. Post-sale, Howard owns 3,476 shares valued at approximately $1.13 million, representing a 20.87% decline in her stake. Data from the SEC indicates that corporate insiders control about 0.15% of Autodesk’s stock.

Founded in 1982, Autodesk, Inc. specializes in software solutions for 3D design, engineering, and entertainment. The company’s flagship products include AutoCAD, Fusion 360, and various industry-specific collections that serve professionals across architecture, engineering, construction, and manufacturing sectors.

As Autodesk continues to adapt to market demands and technological advancements, its performance remains a focal point for investors and analysts alike, reflecting broader trends in the tech industry.