The Manufacturers Life Insurance Company Trims Stake in Autodesk, Inc. (NASDAQ:ADSK)

The Manufacturers Life Insurance Company cut its position in Autodesk, Inc. (NASDAQ:ADSK) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 634,845 shares of the software company’s stock after selling 26,528 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Autodesk were worth $187,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADSK. Golden State Wealth Management LLC purchased a new stake in Autodesk during the fourth quarter worth $25,000. Tradewinds Capital Management LLC increased its position in shares of Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in shares of Autodesk in the 4th quarter valued at $30,000. Addison Advisors LLC grew its position in Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after purchasing an additional 74 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Autodesk during the 4th quarter worth about $37,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $534,200. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at $802,671.87. The trade was a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ ADSK opened at $271.47 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $57.82 billion, a price-to-earnings ratio of 53.86, a P/E/G ratio of 2.94 and a beta of 1.49. The firm’s 50 day simple moving average is $263.89 and its 200 day simple moving average is $286.65. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADSK. Barclays decreased their price target on shares of Autodesk from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. DA Davidson lowered their price target on Autodesk from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Citigroup lowered their price target on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a report on Thursday, February 27th. KeyCorp decreased their target price on Autodesk from $335.00 to $323.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and increased their price target for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $321.36.

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.