MetLife Investment Management LLC Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

MetLife Investment Management LLC reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 65,832 shares of the software company’s stock after selling 1,243 shares during the period. MetLife Investment Management LLC’s holdings in Autodesk were worth $18,135,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADSK. CreativeOne Wealth LLC raised its holdings in Autodesk by 109.6% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,708 shares of the software company’s stock valued at $471,000 after acquiring an additional 893 shares during the period. BNP Paribas grew its position in shares of Autodesk by 153.8% in the third quarter. BNP Paribas now owns 165 shares of the software company’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Autodesk by 86.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 78,068 shares of the software company’s stock valued at $21,506,000 after purchasing an additional 36,173 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Autodesk during the 3rd quarter valued at $1,885,000. Finally, Freedom Investment Management Inc. lifted its holdings in Autodesk by 7.6% during the 3rd quarter. Freedom Investment Management Inc. now owns 1,779 shares of the software company’s stock worth $490,000 after purchasing an additional 126 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,232,213 in the last ninety days. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADSK. Robert W. Baird upped their price target on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Oppenheimer upped their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Berenberg Bank raised their price target on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Royal Bank of Canada boosted their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Citigroup increased their price objective on Autodesk from $325.00 to $358.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $315.38.

Autodesk Price Performance

ADSK stock opened at $290.64 on Thursday. The firm has a market cap of $62.49 billion, a P/E ratio of 59.44, a P/E/G ratio of 4.08 and a beta of 1.47. The firm’s fifty day moving average is $289.02 and its 200 day moving average is $256.83. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. Research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

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.