MetLife Investment Management LLC Decreases Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• MetLife Investment Management LLC reduced its stake in Autodesk, Inc. by 1.8%, now holding 65,230 shares valued at approximately $17 million.
• Analysts have set target prices for Autodesk with Citigroup raising it to $376.00 and Bank of America increasing it to $330.00, indicating strong market interest.
• Shares of Autodesk opened at $290.23, with a 1-year price range of $232.67 to $326.62, highlighting its volatility in the stock market.

MetLife Investment Management LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,230 shares of the software company's stock after selling 1,182 shares during the period. MetLife Investment Management LLC's holdings in Autodesk were worth $17,077,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ADSK. ICONIQ Capital LLC increased its position in shares of Autodesk by 8.6% during the first quarter. ICONIQ Capital LLC now owns 1,006 shares of the software company's stock valued at $263,000 after acquiring an additional 80 shares in the last quarter. Quantitative Investment Management LLC increased its position in Autodesk by 104.4% in the first quarter. Quantitative Investment Management LLC now owns 3,080 shares of the software company's stock worth $806,000 after buying an additional 1,573 shares in the last quarter. Groupe la Francaise lifted its holdings in Autodesk by 14.2% during the first quarter. Groupe la Francaise now owns 18,270 shares of the software company's stock valued at $4,929,000 after purchasing an additional 2,276 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Autodesk by 509.5% during the 1st quarter. AlphaQuest LLC now owns 10,155 shares of the software company's stock valued at $2,659,000 after buying an additional 8,489 shares in the last quarter. Finally, Allstate Corp lifted its position in shares of Autodesk by 45.8% in the first quarter. Allstate Corp now owns 9,249 shares of the software company's stock valued at $2,421,000 after acquiring an additional 2,907 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 9,391 shares of company stock valued at $2,909,885. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $370.00 price objective (up from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Oppenheimer raised their target price on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a report on Friday. Macquarie raised their price target on Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday. Rosenblatt Securities lifted their target price on Autodesk from $345.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Citigroup lifted their target price on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $355.22.

Autodesk Stock Performance

Autodesk stock traded up $26.21 during mid-day trading on Friday, hitting $314.70. The company had a trading volume of 4,872,121 shares, compared to its average volume of 1,616,232. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12-month low of $232.67 and a 12-month high of $326.62. The company's fifty day moving average is $297.30 and its 200-day moving average is $284.69. The company has a market capitalization of $67.35 billion, a price-to-earnings ratio of 67.39, a P/E/G ratio of 2.75 and a beta of 1.46.

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.