Allspring Global Investments Holdings LLC Cuts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Allspring Global Investments Holdings LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 127,837 shares of the software company’s stock after selling 539 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Autodesk were worth $37,497,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ADSK. Marshall Financial Group LLC lifted its holdings in shares of Autodesk by 0.8% during the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after purchasing an additional 35 shares during the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Autodesk by 1.9% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after buying an additional 35 shares during the period. Y.D. More Investments Ltd lifted its stake in Autodesk by 1.0% during the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock valued at $1,000,000 after buying an additional 35 shares in the last quarter. Grove Bank & Trust lifted its stake in Autodesk by 9.2% during the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock valued at $130,000 after buying an additional 37 shares in the last quarter. Finally, Journey Strategic Wealth LLC increased its position in shares of Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock worth $247,000 after acquiring an additional 37 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Down 0.3 %

Shares of ADSK stock opened at $302.72 on Friday. The company has a market capitalization of $65.08 billion, a price-to-earnings ratio of 60.06, a PEG ratio of 3.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50 day simple moving average is $299.54 and its 200 day simple moving average is $282.88. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the company earned $1.33 earnings per share. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts predict that Autodesk, Inc. will post 5.76 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Rosenblatt Securities increased their price objective on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Stifel Nicolaus increased their price target on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.77.

Autodesk 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.