Mackay Shields LLC Purchases Shares of 38,457 Autodesk, Inc. (ADSK)

Mackay Shields LLC acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 38,457 shares of the software company’s stock, valued at approximately $4,946,000.

Several other institutional investors have also recently bought and sold shares of ADSK. First Bank & Trust raised its holdings in Autodesk by 326.5% in the fourth quarter. First Bank & Trust now owns 4,129 shares of the software company’s stock valued at $531,000 after acquiring an additional 3,161 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in Autodesk by 12.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 56,650 shares of the software company’s stock valued at $7,286,000 after purchasing an additional 6,445 shares during the last quarter. Morgan Stanley raised its holdings in shares of Autodesk by 2.3% in the third quarter. Morgan Stanley now owns 1,843,405 shares of the software company’s stock valued at $287,774,000 after buying an additional 41,253 shares during the last quarter. Central Bank & Trust Co. acquired a new position in shares of Autodesk during the 4th quarter worth about $620,000. Finally, Raymond James Trust N.A. lifted its holdings in shares of Autodesk by 16.6% during the 4th quarter. Raymond James Trust N.A. now owns 8,588 shares of the software company’s stock valued at $1,104,000 after purchasing an additional 1,223 shares in the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

In related news, insider Andrew Anagnost sold 10,440 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $153.21, for a total transaction of $1,599,512.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Crawford W. Beveridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $152.90, for a total value of $152,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 26,929 shares of company stock valued at $4,274,847. Insiders own 0.14% of the company’s stock.

A number of brokerages have commented on ADSK. Wedbush reaffirmed a “neutral” rating and issued a $163.00 price objective on shares of Autodesk in a report on Thursday. Stifel Nicolaus began coverage on Autodesk in a research report on Tuesday, December 18th. They set a “buy” rating and a $163.00 price objective for the company. Zacks Investment Research downgraded Autodesk from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Credit Suisse Group upped their price objective on Autodesk from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada upped their price objective on Autodesk from $163.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, February 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Autodesk currently has an average rating of “Buy” and an average target price of $169.45.

Shares of ADSK stock opened at $154.31 on Thursday. The stock has a market capitalization of $33.97 billion, a PE ratio of 1,402.82, a P/E/G ratio of 2.28 and a beta of 1.94. Autodesk, Inc. has a 1-year low of $117.72 and a 1-year high of $169.05.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 28th. The software company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. During the same period last year, the firm posted ($0.09) earnings per share. Sell-side analysts expect that Autodesk, Inc. will post 1.76 EPS for the current year.

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Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

See Also: What Does a Sell-Side Analyst Rating Mean?

Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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