MetLife Investment Management LLC Sells 1,243 Shares of Autodesk, Inc. (NASDAQ:ADSK)

MetLife Investment Management LLC cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,832 shares of the software company’s stock after selling 1,243 shares during the quarter. MetLife Investment Management LLC’s holdings in Autodesk were worth $18,135,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CreativeOne Wealth LLC raised its stake in Autodesk by 109.6% in the third quarter. CreativeOne Wealth LLC now owns 1,708 shares of the software company’s stock worth $471,000 after buying an additional 893 shares in the last quarter. BNP Paribas grew its holdings in shares of Autodesk by 153.8% during the 3rd quarter. BNP Paribas now owns 165 shares of the software company’s stock worth $45,000 after acquiring an additional 100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Autodesk by 86.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 78,068 shares of the software company’s stock worth $21,506,000 after acquiring an additional 36,173 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Autodesk in the 3rd quarter valued at approximately $1,885,000. Finally, Freedom Investment Management Inc. boosted its position in shares of Autodesk by 7.6% during the third quarter. Freedom Investment Management Inc. now owns 1,779 shares of the software company’s stock valued at $490,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Berenberg Bank boosted their target price 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 upped their price objective on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and lifted their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company lifted their price objective on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $315.38.

Insider Activity

In other news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock valued at $5,232,213 in the last quarter. 0.14% of the stock is currently owned by insiders.

Autodesk Trading Down 8.6 %

NASDAQ:ADSK opened at $290.64 on Thursday. The company has a market cap of $62.49 billion, a PE ratio of 59.44, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a 50 day simple moving average of $289.02 and a two-hundred day simple moving average of $256.83. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

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

About Autodesk

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.