M&G Plc Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

M&G Plc purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 160,249 shares of the software company’s stock, valued at approximately $41,665,000. M&G Plc owned approximately 0.07% of Autodesk as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the transaction, the director now directly owns 32,116 shares in the company, valued at approximately $7,264,960.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. In the last three months, insiders sold 39,381 shares of company stock worth $9,401,282. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. StockNews.com lowered Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of Autodesk in a report on Tuesday, June 18th. Barclays dropped their price target on Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. KeyCorp lowered their target price on Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. Finally, Citigroup boosted their target price on Autodesk from $286.00 to $295.00 and gave the company a “buy” rating in a research note 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $262.42.

Autodesk Price Performance

Autodesk stock traded down $0.36 during midday trading on Friday, hitting $242.45. 1,120,472 shares of the company’s stock were exchanged, compared to its average volume of 1,644,164. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53. The stock has a 50-day moving average price of $230.85 and a two-hundred day moving average price of $239.76. 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 $52.25 billion, a P/E ratio of 52.48, a PEG ratio of 3.25 and a beta of 1.48.

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