M&T Bank Corp lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,095 shares of the software company’s stock after selling 1,336 shares during the quarter. M&T Bank Corp’s holdings in Autodesk were worth $5,798,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ADSK. Morgan Stanley raised its holdings in Autodesk by 1.4% in the 1st quarter. Morgan Stanley now owns 1,596,250 shares of the software company’s stock valued at $249,176,000 after buying an additional 22,729 shares during the last quarter. Stanley Laman Group Ltd. increased its position in Autodesk by 0.8% during the 2nd quarter. Stanley Laman Group Ltd. now owns 32,274 shares of the software company’s stock valued at $7,720,000 after purchasing an additional 254 shares during the period. YorkBridge Wealth Partners LLC increased its position in Autodesk by 89.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 11,020 shares of the software company’s stock valued at $2,636,000 after purchasing an additional 5,194 shares during the period. Belpointe Asset Management LLC increased its position in Autodesk by 7.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 783 shares of the software company’s stock valued at $187,000 after purchasing an additional 54 shares during the period. Finally, Capital Investment Advisors LLC acquired a new stake in Autodesk during the 2nd quarter valued at approximately $262,000. Institutional investors and hedge funds own 90.62% of the company’s stock.
A number of analysts have weighed in on ADSK shares. Barclays increased their target price on shares of Autodesk from $274.00 to $283.00 and gave the company an “overweight” rating in a research report on Wednesday, August 26th. Bank of America increased their target price on shares of Autodesk from $143.00 to $170.00 and gave the company an “underperform” rating in a research report on Wednesday, August 26th. BidaskClub raised shares of Autodesk from a “hold” rating to a “buy” rating in a research report on Wednesday, October 21st. Wells Fargo & Company increased their target price on shares of Autodesk from $250.00 to $300.00 in a research report on Wednesday, August 26th. Finally, Royal Bank of Canada raised their price objective on shares of Autodesk from $236.00 to $255.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Three analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $242.86.
In other news, CAO Stephen W. Hope sold 236 shares of Autodesk stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $224.16, for a total transaction of $52,901.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lorrie M. Norrington sold 2,475 shares of Autodesk stock in a transaction on Monday, September 21st. The stock was sold at an average price of $220.80, for a total value of $546,480.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,342 shares of company stock worth $2,714,897. Company insiders own 0.14% of the company’s stock.
Shares of ADSK opened at $251.00 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 24.31. The business’s fifty day moving average is $243.16 and its 200 day moving average is $229.63. Autodesk, Inc. has a 12-month low of $125.38 and a 12-month high of $276.68. The stock has a market cap of $53.88 billion, a P/E ratio of 153.99, a P/E/G ratio of 3.02 and a beta of 1.42.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, August 25th. The software company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. Autodesk had a negative return on equity of 457.10% and a net margin of 10.26%. The business had revenue of $913.10 million for the quarter, compared to analysts’ expectations of $901.76 million. During the same period last year, the business earned $0.65 EPS. The business’s revenue was up 14.6% on a year-over-year basis. On average, analysts expect that Autodesk, Inc. will post 2.33 EPS for the current year.
Autodesk, Inc operates as a software design and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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