Massachusetts Financial Services Co. MA Has $156.30 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Massachusetts Financial Services Co. MA grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 394.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 567,360 shares of the software company's stock after buying an additional 452,728 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.26% of Autodesk worth $156,296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ADSK. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk during the first quarter worth $25,000. LRI Investments LLC bought a new stake in shares of Autodesk in the first quarter valued at about $26,000. Olistico Wealth LLC acquired a new position in shares of Autodesk during the second quarter worth about $26,000. Pacifica Partners Inc. grew its holdings in shares of Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company's stock worth $27,000 after buying an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in Autodesk in the 3rd quarter valued at approximately $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Berenberg Bank raised their price target on shares of Autodesk from $286.00 to $299.00 and gave the stock a "hold" rating in a research note on Friday, August 30th. Royal Bank of Canada lifted their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an "outperform" rating in a research note on Friday, August 30th. HSBC upgraded shares of Autodesk from a "hold" rating to a "buy" rating and increased their price objective for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Citigroup lifted their target price on Autodesk from $325.00 to $358.00 and gave the company a "buy" rating in a research report on Friday. Finally, Bank of America increased their price target on Autodesk from $260.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and an average target price of $309.43.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the company's stock in a transaction that occurred 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 directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,232,213 over the last three months. 0.14% of the stock is owned by insiders.

Autodesk Stock Performance

Shares of ADSK traded up $5.86 during mid-day trading on Friday, hitting $321.27. 1,905,591 shares of the company's stock were exchanged, compared to its average volume of 1,304,630. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $321.90. The stock's 50-day simple moving average is $286.44 and its 200-day simple moving average is $255.18. The firm has a market cap of $69.07 billion, a price-to-earnings ratio of 65.70, a price-to-earnings-growth ratio of 4.03 and a beta of 1.47.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $1.12 EPS. Autodesk's quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts expect that Autodesk, Inc. will post 5.73 EPS for the current year.

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.