Amalgamated Bank Sells 4,187 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Amalgamated Bank lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,880 shares of the software company’s stock after selling 4,187 shares during the period. Amalgamated Bank’s holdings in Autodesk were worth $13,849,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Autodesk by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 18,728,596 shares of the software company’s stock valued at $3,875,134,000 after purchasing an additional 69,039 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Autodesk by 1.2% during the 3rd quarter. Clearbridge Investments LLC now owns 3,018,078 shares of the software company’s stock worth $624,471,000 after acquiring an additional 35,105 shares during the period. Northern Trust Corp grew its holdings in shares of Autodesk by 1.7% during the 3rd quarter. Northern Trust Corp now owns 2,548,156 shares of the software company’s stock worth $527,239,000 after acquiring an additional 43,293 shares during the period. Morgan Stanley grew its holdings in shares of Autodesk by 4.5% during the 3rd quarter. Morgan Stanley now owns 2,378,796 shares of the software company’s stock worth $492,197,000 after acquiring an additional 102,035 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Autodesk by 14.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,364,179 shares of the software company’s stock worth $489,178,000 after acquiring an additional 293,464 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the sale, the director now directly owns 33,766 shares of the company’s stock, valued at $9,285,650. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the sale, the director now directly owns 33,766 shares of the company’s stock, valued at $9,285,650. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the sale, the chief accounting officer now directly owns 3,450 shares in the company, valued at $898,621.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,166 shares of company stock worth $9,465,055. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $316.00 target price on shares of Autodesk in a report on Friday, April 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of Autodesk in a research note on Monday, April 1st. BMO Capital Markets increased their target price on Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Oppenheimer increased their target price on Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Piper Sandler increased their target price on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $274.67.

Autodesk Stock Performance

NASDAQ ADSK traded up $5.24 on Friday, hitting $215.19. 1,197,080 shares of the company traded hands, compared to its average volume of 1,470,283. The company has a market capitalization of $46.37 billion, a price-to-earnings ratio of 51.11, a P/E/G ratio of 2.90 and a beta of 1.45. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average price is $244.08 and its 200-day moving average price is $235.33. Autodesk, Inc. has a 52-week low of $189.54 and a 52-week high of $279.53.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.14. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. Autodesk’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. Equities analysts expect that Autodesk, Inc. will post 5.38 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.