The Manufacturers Life Insurance Company Sells 26,528 Shares of Autodesk, Inc. (NASDAQ:ADSK)

The Manufacturers Life Insurance Company lowered its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 634,845 shares of the software company’s stock after selling 26,528 shares during the quarter. The Manufacturers Life Insurance Company owned 0.30% of Autodesk worth $187,641,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADSK. Mount Yale Investment Advisors LLC raised its position in Autodesk by 1.9% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after buying an additional 35 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Autodesk by 1.0% during the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after purchasing an additional 35 shares during the last quarter. Grove Bank & Trust boosted its position in shares of Autodesk by 9.2% in the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after acquiring an additional 37 shares during the last quarter. Journey Strategic Wealth LLC raised its holdings in Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock valued at $247,000 after buying an additional 37 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Autodesk by 11.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock valued at $106,000 after buying an additional 38 shares during the period. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK opened at $271.47 on Tuesday. The stock has a 50 day moving average of $263.89 and a 200 day moving average of $286.65. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a market capitalization of $57.82 billion, a price-to-earnings ratio of 53.86, a PEG ratio of 2.94 and a beta of 1.49. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ADSK shares. Wells Fargo & Company reduced their price target on shares of Autodesk from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. KeyCorp dropped their price target on shares of Autodesk from $335.00 to $323.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley dropped their price target on shares of Autodesk from $385.00 to $330.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. DA Davidson lowered their price objective on shares of Autodesk from $285.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Oppenheimer restated an “outperform” rating on shares of Autodesk in a report on Thursday. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.36.

Insider Transactions at Autodesk

In related news, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Autodesk 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.