American International Group Inc. Grows Holdings in Autodesk, Inc. (NASDAQ:ADSK)

American International Group Inc. increased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,400 shares of the software company’s stock after purchasing an additional 2,566 shares during the quarter. American International Group Inc.’s holdings in Autodesk were worth $21,198,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new stake in Autodesk in the fourth quarter valued at $25,000. Concord Wealth Partners acquired a new stake in shares of Autodesk in the first quarter valued at approximately $25,000. Bfsg LLC bought a new stake in shares of Autodesk during the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. acquired a new position in shares of Autodesk during the fourth quarter worth approximately $28,000. Finally, Eagle Bay Advisors LLC grew its holdings in Autodesk by 217.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 111 shares of the software company’s stock worth $29,000 after buying an additional 76 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $253.33, for a total value of $139,331.50. Following the completion of the sale, the director now owns 31,016 shares in the company, valued at approximately $7,857,283.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Steven M. Blum sold 19,693 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the transaction, the chief operating officer now owns 34,443 shares in the company, valued at approximately $8,610,750. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the transaction, the director now owns 31,016 shares in the company, valued at approximately $7,857,283.28. The disclosure for this sale can be found here. Insiders sold a total of 39,381 shares of company stock worth $9,401,282 in the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of recent analyst reports. Barclays decreased their target price on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Berenberg Bank cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective for the company. in a report on Wednesday, May 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $290.00 price objective on shares of Autodesk in a report on Wednesday, June 12th. Bank of America decreased their price objective on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $239.00 price objective on shares of Autodesk in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Autodesk currently has an average rating of “Hold” and a consensus target price of $262.42.

Autodesk Trading Down 2.8 %

Shares of NASDAQ:ADSK traded down $6.78 during mid-day trading on Wednesday, hitting $239.45. The stock had a trading volume of 1,510,875 shares, compared to its average volume of 1,712,458. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $51.60 billion, a PE ratio of 51.83, a P/E/G ratio of 3.28 and a beta of 1.48. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The company’s 50 day moving average is $232.42 and its 200-day moving average is $240.12.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts predict that Autodesk, Inc. will post 5.55 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.