Handelsbanken Fonder AB Buys 3,008 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Handelsbanken Fonder AB boosted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,858 shares of the software company’s stock after purchasing an additional 3,008 shares during the quarter. Handelsbanken Fonder AB’s holdings in Autodesk were worth $36,904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC boosted its position in shares of 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 purchasing an additional 35 shares in the last quarter. Y.D. More Investments Ltd raised its stake in Autodesk by 1.0% during the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after buying an additional 35 shares during the period. Grove Bank & Trust boosted its holdings in Autodesk by 9.2% in the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after acquiring an additional 37 shares in the last quarter. Journey Strategic Wealth LLC grew its stake in Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock valued at $247,000 after acquiring an additional 37 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Autodesk by 11.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock valued at $106,000 after acquiring an additional 38 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. UBS Group began coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective on the stock. Barclays boosted their target price on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer upped their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets lifted their price target on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $334.45.

Autodesk Stock Performance

NASDAQ ADSK opened at $291.02 on Friday. The company has a market capitalization of $62.57 billion, a PE ratio of 57.74, a price-to-earnings-growth ratio of 3.05 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. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a 50-day simple moving average of $298.62 and a 200 day simple moving average of $284.86.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS 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 company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. Autodesk’s revenue was up 11.0% on a year-over-year basis. On average, research analysts predict that Autodesk, Inc. will post 5.76 EPS for the current year.

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.