Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,687 shares of the software company’s stock after selling 7,006 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Autodesk were worth $28,578,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in Autodesk by 151.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 22,549 shares of the software company’s stock valued at $6,665,000 after buying an additional 13,579 shares during the period. Seaview Investment Managers LLC acquired a new stake in shares of Autodesk in the 4th quarter worth $356,000. MML Investors Services LLC boosted its holdings in shares of Autodesk by 15.5% in the fourth quarter. MML Investors Services LLC now owns 75,003 shares of the software company’s stock valued at $22,169,000 after acquiring an additional 10,054 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Autodesk by 0.9% during the fourth quarter. MetLife Investment Management LLC now owns 66,412 shares of the software company’s stock worth $19,629,000 after acquiring an additional 580 shares during the period. Finally, Ostrum Asset Management raised its holdings in Autodesk by 27.1% during the fourth quarter. Ostrum Asset Management now owns 497 shares of the software company’s stock worth $147,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their price objective on Autodesk from $385.00 to $330.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Robert W. Baird decreased their price target on Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on Autodesk from $300.00 to $280.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Citigroup decreased their target price on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Scotiabank cut their price target on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $321.59.

Autodesk Stock Down 2.0 %

Shares of NASDAQ:ADSK opened at $254.27 on Tuesday. The company has a market capitalization of $54.16 billion, a P/E ratio of 50.45, a P/E/G ratio of 2.94 and a beta of 1.49. The stock’s fifty day simple moving average is $267.18 and its 200-day simple moving average is $286.92. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 2,452 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

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.