The Manufacturers Life Insurance Company Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

The Manufacturers Life Insurance Company decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 approximately 0.30% of Autodesk worth $187,641,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADSK. Vanguard Group Inc. boosted its stake in Autodesk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock valued at $6,025,331,000 after purchasing an additional 119,034 shares during the period. Geode Capital Management LLC lifted its position in Autodesk by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock worth $1,391,145,000 after purchasing an additional 45,623 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after buying an additional 2,307,960 shares in the last quarter. Invesco Ltd. raised its position in shares of Autodesk by 8.7% in the 4th quarter. Invesco Ltd. now owns 2,383,255 shares of the software company's stock valued at $704,419,000 after buying an additional 191,666 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock worth $603,947,000 after purchasing an additional 245,816 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ADSK shares. KeyCorp lowered their price target on shares of Autodesk from $335.00 to $323.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus dropped their target price on Autodesk from $350.00 to $310.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Macquarie reaffirmed an "outperform" rating and issued a $360.00 price objective on shares of Autodesk in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their target price on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Autodesk in a research report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $321.36.

Autodesk Price Performance

Autodesk stock traded up $6.50 during mid-day trading on Friday, hitting $279.99. 959,603 shares of the company traded hands, compared to its average volume of 1,628,506. The stock has a fifty day moving average price of $263.07 and a 200-day moving average price of $286.38. The stock has a market cap of $59.64 billion, a price-to-earnings ratio of 55.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. 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 Activity

In other news, CAO Stephen W. Hope sold 2,452 shares of the firm's 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 transaction, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the stock in a transaction on Friday, March 21st. The stock was bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company's stock, valued at $534,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase 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.