Amalgamated Bank Sells 779 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Amalgamated Bank reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 46,060 shares of the software company’s stock after selling 779 shares during the period. Amalgamated Bank’s holdings in Autodesk were worth $11,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after acquiring an additional 363,565 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares during the last quarter. Ninety One UK Ltd grew its position in shares of Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares during the last quarter. FIL Ltd increased its stake in shares of Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after purchasing an additional 479,559 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after purchasing an additional 825,165 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the sale, the director now directly owns 31,016 shares in the company, valued at approximately $7,857,283.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction on Friday, August 30th. The stock was 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 in the company, valued at $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $253.33, for a total value of $139,331.50. Following the transaction, the director now directly owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The disclosure for this sale can be found here. Insiders sold 38,762 shares of company stock valued at $10,046,302 over the last quarter. 0.14% of the stock is owned by company insiders.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $264.21 on Thursday. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $56.94 billion, a price-to-earnings ratio of 57.19, a PEG ratio of 3.29 and a beta of 1.48. The firm has a 50 day simple moving average of $249.56 and a 200 day simple moving average of $239.35.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADSK shares. Rosenblatt Securities increased their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Piper Sandler raised their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Royal Bank of Canada boosted their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Barclays increased their price target on Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Mizuho lifted their price objective on Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.17.

About Autodesk

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.