TCW Group Inc. Acquires 3,376 Shares of Autodesk, Inc. (NASDAQ:ADSK)

TCW Group Inc. lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 15.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,357 shares of the software company’s stock after buying an additional 3,376 shares during the period. TCW Group Inc.’s holdings in Autodesk were worth $6,179,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ADSK. Bfsg LLC purchased a new stake in shares of Autodesk in the fourth quarter valued at $27,000. Rakuten Securities Inc. purchased a new stake in Autodesk in the 4th quarter worth about $28,000. Private Wealth Management Group LLC purchased a new position in shares of Autodesk during the fourth quarter valued at approximately $31,000. First United Bank & Trust bought a new position in shares of Autodesk during the fourth quarter valued at approximately $34,000. Finally, Operose Advisors LLC bought a new stake in shares of Autodesk during the 3rd quarter worth approximately $35,000. Institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the completion of the transaction, the chief executive officer now owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rebecca Pearce sold 1,628 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the transaction, the executive vice president now owns 13,620 shares in the company, valued at approximately $3,425,974.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,616 shares of company stock worth $9,319,448. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK stock traded down $0.27 during trading hours on Friday, hitting $214.89. The company’s stock had a trading volume of 1,496,728 shares, compared to its average volume of 1,401,080. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average of $231.60 and a 200 day moving average of $237.02. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The stock has a market cap of $46.30 billion, a PE ratio of 51.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, sell-side analysts forecast that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Oppenheimer dropped their price target on Autodesk from $315.00 to $275.00 and set an “outperform” rating on the stock in a research report on Thursday. Piper Sandler Companies increased their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of Autodesk in a research report on Monday, April 1st. Finally, KeyCorp cut their price objective 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 research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $270.17.

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.