M&T Bank Corp Sells 5,530 Shares of Autodesk, Inc. (NASDAQ:ADSK)

M&T Bank Corp lessened its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 21.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,732 shares of the software company's stock after selling 5,530 shares during the period. M&T Bank Corp's holdings in Autodesk were worth $5,166,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in shares of Autodesk in the 4th quarter worth about $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Autodesk in the 4th quarter worth about $30,000. Abound Financial LLC purchased a new stake in shares of Autodesk in the 1st quarter worth about $35,000. Hurley Capital LLC purchased a new stake in shares of Autodesk in the 4th quarter worth about $44,000. Finally, CoreCap Advisors LLC lifted its position in shares of Autodesk by 212.0% in the 4th quarter. CoreCap Advisors LLC now owns 156 shares of the software company's stock worth $46,000 after purchasing an additional 106 shares during the period. Institutional investors own 90.24% of the company's stock.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the sale, the executive vice president directly owned 19,440 shares in the company, valued at $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 9,391 shares of company stock valued at $2,909,885 in the last three months. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America raised their target price on shares of Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Robert W. Baird raised their target price on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Morgan Stanley reissued an "overweight" rating and set a $370.00 price target (up from $330.00) on shares of Autodesk in a research report on Friday, May 23rd. Citigroup boosted their price objective on shares of Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and an average target price of $343.64.

Autodesk Stock Performance

Shares of ADSK stock opened at $286.11 on Friday. The company has a 50 day moving average price of $298.03 and a 200-day moving average price of $285.95. Autodesk, Inc. has a 52 week low of $223.03 and a 52 week high of $326.62. The firm has a market capitalization of $61.23 billion, a PE ratio of 61.27, a P/E/G ratio of 2.96 and a beta of 1.44. 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 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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