Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 53.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,528 shares of the software company’s stock after selling 26,760 shares during the period. M&T Bank Corp’s holdings in Autodesk were worth $6,481,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Livelsberger Financial Advisory acquired a new position in Autodesk in the third quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new stake in shares of Autodesk during the 3rd quarter worth $28,000. Concord Wealth Partners acquired a new stake in shares of Autodesk during the third quarter worth $28,000. Stephens Consulting LLC purchased a new stake in shares of Autodesk during the second quarter valued at $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Autodesk during the second quarter valued at $36,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Performance

Shares of ADSK opened at $298.12 on Monday. The firm has a market cap of $64.10 billion, a price-to-earnings ratio of 59.15, a price-to-earnings-growth ratio of 3.62 and a beta of 1.43. The company’s fifty day moving average is $299.04 and its 200-day moving average is $267.16. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Autodesk (NASDAQ:ADSK) last posted 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. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk 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 approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,386 shares of company stock valued at $403,308. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bank of America boosted their price objective on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Barclays raised their price objective on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird boosted their target price on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Citigroup increased their target price on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday, November 29th. Finally, Berenberg Bank lifted their price target on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.95.

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.