Cigna Investments Inc. New Sells 40 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Cigna Investments Inc. New lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,206 shares of the software company’s stock after selling 40 shares during the period. Cigna Investments Inc. New’s holdings in Autodesk were worth $652,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ADSK. Marshall Financial Group LLC increased its position in shares of Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after purchasing an additional 35 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its stake in Autodesk by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock valued at $551,000 after purchasing an additional 35 shares during the period. Y.D. More Investments Ltd lifted its position in shares of Autodesk by 1.0% during the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock valued at $1,000,000 after acquiring an additional 35 shares during the period. Grove Bank & Trust lifted its position in shares of Autodesk by 9.2% during the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock valued at $130,000 after acquiring an additional 37 shares during the period. Finally, Journey Strategic Wealth LLC lifted its position in shares of Autodesk by 4.6% during the 4th quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock valued at $247,000 after acquiring an additional 37 shares during the period. Institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price target on Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Scotiabank initiated coverage on Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target for the company. Rosenblatt Securities increased their price target on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and increased their price target for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Finally, Morgan Stanley upped their target price on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $333.77.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Autodesk Trading Up 1.3 %

ADSK opened at $304.99 on Tuesday. The firm has a market cap of $65.57 billion, a P/E ratio of 60.51, a P/E/G ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $299.53 and a 200 day moving average of $281.78.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business 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 business earned $1.33 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current year.

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.