The Manufacturers Life Insurance Company Decreases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

The Manufacturers Life Insurance Company cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 661,373 shares of the software company’s stock after selling 5,172 shares during the period. The Manufacturers Life Insurance Company’s holdings in Autodesk were worth $182,195,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in shares of Autodesk in the 1st quarter worth $25,000. LRI Investments LLC bought a new position in Autodesk in the 1st quarter worth $26,000. Olistico Wealth LLC bought a new position in Autodesk in the 2nd quarter worth $26,000. Pacifica Partners Inc. boosted its holdings in Autodesk by 83.3% in the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after buying an additional 50 shares during the period. Finally, Livelsberger Financial Advisory bought a new position in Autodesk in the 3rd quarter worth $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADSK. Citigroup upped their target price on shares of Autodesk from $325.00 to $358.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Berenberg Bank upped their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Robert W. Baird upped their target price on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Scotiabank initiated coverage on shares of Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.43.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,232,213 in the last ninety days. 0.14% of the stock is owned by company insiders.

Autodesk Stock Down 0.4 %

Shares of NASDAQ ADSK opened at $317.96 on Wednesday. The firm’s 50-day moving average price is $288.49 and its 200-day moving average price is $256.59. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $68.36 billion, a price-to-earnings ratio of 65.02, a P/E/G ratio of 4.10 and a beta of 1.47. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the company earned $1.33 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

About Autodesk

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.