Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 32,687 shares of the software company’s stock after selling 148 shares during the quarter. New York Life Investment Management LLC’s holdings in Autodesk were worth $8,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in Autodesk during the first quarter valued at $25,000. Concord Wealth Partners bought a new stake in shares of Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in Autodesk during the 1st quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in Autodesk during the 4th quarter worth $25,000. Finally, Olistico Wealth LLC acquired a new position in shares of Autodesk during the second quarter valued at $26,000. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

Autodesk stock opened at $250.37 on Friday. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The firm’s 50 day simple moving average is $247.13 and its 200-day simple moving average is $239.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $53.96 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 64.61%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. As a group, equities research analysts predict that Autodesk, Inc. will post 5.55 EPS for the current year.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at $12,256,390.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,275 shares of company stock valued at $14,220,661. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the subject of several research analyst reports. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Piper Sandler increased their price objective on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. BMO Capital Markets boosted their target price on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Mizuho increased their price target on Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $292.17.

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.