Comerica Bank Has $15.60 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Comerica Bank trimmed its position in Autodesk, Inc. (NASDAQ:ADSK) by 3.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 59,915 shares of the software company’s stock after selling 2,084 shares during the period. Comerica Bank’s holdings in Autodesk were worth $15,603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ADSK. Concord Wealth Partners acquired a new position in Autodesk during the 1st quarter valued at $25,000. Ables Iannone Moore & Associates Inc. acquired a new position in Autodesk during the 4th quarter valued at $25,000. Bfsg LLC acquired a new position in Autodesk during the 4th quarter valued at $27,000. Eagle Bay Advisors LLC raised its stake in Autodesk by 217.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 111 shares of the software company’s stock valued at $29,000 after purchasing an additional 76 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in Autodesk during the 4th quarter valued at $28,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADSK has been the subject of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $290.00 target price on shares of Autodesk in a research note on Wednesday, June 12th. BMO Capital Markets cut their target price on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a research note on Wednesday, June 12th. Oppenheimer reiterated an “outperform” rating and set a $275.00 target price on shares of Autodesk in a research note on Tuesday, June 18th. Morgan Stanley reissued an “equal weight” rating and issued a $255.00 price target on shares of Autodesk in a report on Wednesday, June 12th. Finally, KeyCorp lowered their price target on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $262.42.

Autodesk Price Performance

NASDAQ:ADSK traded down $10.01 during mid-day trading on Friday, reaching $231.77. 1,306,246 shares of the company were exchanged, compared to its average volume of 1,689,005. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53. The company has a fifty day moving average of $235.21 and a 200 day moving average of $240.29. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The stock has a market cap of $49.95 billion, a PE ratio of 52.33, a PEG ratio of 3.31 and a beta of 1.48.

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

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the transaction, the director now directly owns 31,566 shares in the company, valued at approximately $7,418,010. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction dated 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 directly owns 34,443 shares in the company, valued at approximately $8,610,750. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the transaction, the director now owns 31,566 shares in the company, valued at $7,418,010. The disclosure for this sale can be found here. Insiders have sold a total of 39,381 shares of company stock valued at $9,401,282 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Autodesk Company 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.