M&T Bank Corp reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 53.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,528 shares of the software company's stock after selling 26,760 shares during the quarter. M&T Bank Corp's holdings in Autodesk were worth $6,481,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in ADSK. TD Private Client Wealth LLC boosted its stake in Autodesk by 13.8% in the 3rd quarter. TD Private Client Wealth LLC now owns 801 shares of the software company's stock worth $221,000 after purchasing an additional 97 shares in the last quarter. Fortem Financial Group LLC raised its holdings in Autodesk by 46.0% in the 3rd quarter. Fortem Financial Group LLC now owns 7,656 shares of the software company's stock worth $2,109,000 after acquiring an additional 2,411 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Autodesk by 0.5% in the third quarter. Toronto Dominion Bank now owns 117,626 shares of the software company's stock worth $32,404,000 after purchasing an additional 622 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Autodesk by 8.0% during the third quarter. Coldstream Capital Management Inc. now owns 4,566 shares of the software company's stock valued at $1,275,000 after purchasing an additional 337 shares in the last quarter. Finally, Goodman Advisory Group LLC boosted its position in shares of Autodesk by 10.0% during the third quarter. Goodman Advisory Group LLC now owns 13,915 shares of the software company's stock valued at $3,833,000 after buying an additional 1,262 shares during the last quarter. 90.24% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
ADSK has been the subject of a number of recent analyst reports. DA Davidson assumed coverage on Autodesk in a research report on Friday, September 27th. They issued a "neutral" rating and a $260.00 target price for the company. Morgan Stanley increased their price objective on shares of Autodesk from $320.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their target price on shares of Autodesk from $340.00 to $350.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Scotiabank assumed coverage on shares of Autodesk in a research note on Monday, November 18th. They set a "sector outperform" rating and a $360.00 target price for the company. Finally, Citigroup raised their price target on Autodesk from $358.00 to $361.00 and gave the stock a "buy" rating in a research note on Friday, November 29th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $323.95.
Check Out Our Latest Analysis on ADSK
Insider Buying and Selling at Autodesk
In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares of the company's stock, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,386 shares of company stock worth $403,308 in the last quarter. 0.14% of the stock is owned by corporate insiders.
Autodesk Price Performance
Shares of Autodesk stock traded down $0.63 during trading hours on Monday, hitting $297.49. The company's stock had a trading volume of 876,121 shares, compared to its average volume of 1,594,223. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The business has a 50 day moving average price of $299.04 and a two-hundred day moving average price of $267.51. The company has a market cap of $63.96 billion, a PE ratio of 59.03, a PEG ratio of 3.62 and a beta of 1.43.
Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Analysts expect that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.
Autodesk Profile
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Free Report)
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.
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