If i use Child Theme, and Enable the Auto Update Enfold from the Dashbaord ?

Hi, Enfold expert,

Let suppose i am currently using Enfold-Child theme, and from the backend if i add the themeforest API to update the theme auto if new version available.

So, if i enable that option by adding API key and Username, then this will update my parent theme ? and if i changed the folder “enfold” name to someother like “dream” then the update will also work ?

Thanks.