The Manufacturers Life Insurance Company Has $164.94 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

The Manufacturers Life Insurance Company lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 666,545 shares of the software company’s stock after acquiring an additional 77,171 shares during the period. The Manufacturers Life Insurance Company owned 0.31% of Autodesk worth $164,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADSK. Price T Rowe Associates Inc. MD increased its stake in Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares during the period. Van ECK Associates Corp raised its stake in Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares during the period. Point72 Asset Management L.P. boosted its holdings in Autodesk by 366.5% in the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after acquiring an additional 662,339 shares in the last quarter. Finally, FIL Ltd grew its stake in Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after acquiring an additional 479,559 shares during the period. 90.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

ADSK has been the subject of a number of analyst reports. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and lifted their price objective for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and lifted their price target for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Piper Sandler increased their price objective on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. KeyCorp reaffirmed an “overweight” rating and set a $305.00 target price on shares of Autodesk in a research report on Monday, August 26th. Finally, BMO Capital Markets increased their price target on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Autodesk Stock Performance

NASDAQ:ADSK opened at $271.90 on Friday. The company has a market capitalization of $58.60 billion, a P/E ratio of 58.85, a P/E/G ratio of 3.41 and a beta of 1.48. The business has a fifty day simple moving average of $251.85 and a two-hundred day simple moving average of $240.13. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 EPS. On average, analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the sale, the director now owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $253.33, for a total value of $139,331.50. Following the transaction, the director now directly owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,687 shares of company stock worth $10,027,986. 0.14% of the stock is owned by corporate 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.