Bank of New York Mellon Corp Decreases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Bank of New York Mellon Corp cut its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,425,035 shares of the software company's stock after selling 56,573 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Autodesk worth $373,074,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Spire Wealth Management raised its holdings in Autodesk by 2.5% during the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after buying an additional 50 shares during the period. Sowell Financial Services LLC bought a new position in Autodesk during the first quarter valued at $324,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Autodesk by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock valued at $3,565,000 after acquiring an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Autodesk by 27.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock worth $11,212,000 after acquiring an additional 9,222 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Autodesk by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock worth $1,471,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ADSK shares. Morgan Stanley reiterated an "overweight" rating and set a $370.00 price target (up from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Mizuho cut their target price on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities reiterated a "buy" rating and issued a $340.00 price target on shares of Autodesk in a report on Tuesday, May 20th. Stifel Nicolaus boosted their price objective on Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, The Goldman Sachs Group upped their price objective on Autodesk from $270.00 to $300.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $340.45.

Autodesk Trading Up 1.7%

NASDAQ ADSK opened at $315.76 on Monday. The company's 50-day simple moving average is $295.40 and its two-hundred day simple moving average is $285.56. Autodesk, Inc. has a one year low of $223.03 and a one year high of $326.62. The company has a market capitalization of $67.57 billion, a price-to-earnings ratio of 67.61, a price-to-earnings-growth ratio of 3.05 and a beta of 1.44. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the sale, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 9,391 shares of company stock worth $2,909,885 over the last 90 days. Company insiders own 0.15% 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.

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