MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Holdings in Autodesk, Inc. $ADSK

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH dramatically increased its holdings in Autodesk, Inc. by 2,073.9% during the second quarter, bringing its total ownership to 11,891 shares valued at approximately $3.68 million.
• Other institutional investors have also increased their stakes in Autodesk, with T. Rowe Price Investment Management Inc. raising its holdings by 44.1% and now owning over 3.3 million shares worth around $868 million.
• Analyst ratings for Autodesk remain positive, with a consensus of 17 Buy ratings and an average target price of $356.83, reflecting a strong outlook for the company's stock performance.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 2,073.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 11,891 shares of the software company's stock after acquiring an additional 11,344 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Autodesk were worth $3,681,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after purchasing an additional 397,458 shares during the period. Ninety One UK Ltd lifted its holdings in shares of Autodesk by 1.6% during the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after purchasing an additional 79,900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Autodesk by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after purchasing an additional 400,514 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Autodesk by 44.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock worth $868,736,000 after purchasing an additional 1,016,187 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Autodesk by 4.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock worth $785,470,000 after purchasing an additional 124,948 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Down 0.4%

Autodesk stock opened at $323.52 on Thursday. The stock has a market capitalization of $68.91 billion, a PE ratio of 66.98, a price-to-earnings-growth ratio of 2.88 and a beta of 1.49. Autodesk, Inc. has a 12 month low of $232.67 and a 12 month high of $329.09. The business has a 50 day simple moving average of $304.39 and a 200-day simple moving average of $289.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76.

Insider Transactions at Autodesk

In related news, EVP Steven M. Blum sold 22,420 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the completion of the sale, the executive vice president directly owned 13,099 shares in the company, valued at approximately $4,240,801.25. The trade was a 63.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ruth Ann Keene sold 2,761 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total value of $869,991.10. Following the sale, the executive vice president owned 80,255 shares of the company's stock, valued at $25,288,350.50. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,830 shares of company stock valued at $13,123,341 over the last ninety days. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ADSK. Berenberg Bank set a $370.00 target price on Autodesk in a report on Monday, September 1st. Bank of America boosted their price target on Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Wells Fargo & Company boosted their price target on Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Macquarie boosted their price target on Autodesk from $360.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Finally, Morgan Stanley boosted their price target on Autodesk from $370.00 to $385.00 and gave the company an "overweight" rating in a report on Sunday, August 31st. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $356.83.

Autodesk Company 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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