Comerica Bank Sells 2,392 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Comerica Bank decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 50,462 shares of the software company’s stock after selling 2,392 shares during the period. Comerica Bank’s holdings in Autodesk were worth $14,915,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC bought a new stake in Autodesk in the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC raised its position in shares of Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Autodesk during the 4th quarter worth approximately $30,000. Addison Advisors LLC grew its holdings in Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after purchasing an additional 74 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in Autodesk in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Price Performance

NASDAQ:ADSK opened at $273.49 on Friday. The stock has a market capitalization of $58.25 billion, a PE ratio of 54.26, a P/E/G ratio of 2.94 and a beta of 1.49. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The firm has a fifty day simple moving average of $263.07 and a 200 day simple moving average of $286.38. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Activity

In related news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the subject of several research analyst reports. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Oppenheimer restated an “outperform” rating on shares of Autodesk in a report on Thursday, April 24th. Macquarie reiterated an “outperform” rating and set a $360.00 price objective on shares of Autodesk in a report on Friday, February 28th. Scotiabank decreased their price objective on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Finally, DA Davidson dropped their target price on shares of Autodesk from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $321.36.

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.