Waterfront Wealth Inc. Acquires 108 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Waterfront Wealth Inc. raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,260 shares of the software company’s stock after purchasing an additional 108 shares during the quarter. Waterfront Wealth Inc.’s holdings in Autodesk were worth $1,259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Golden State Wealth Management LLC bought a new stake in shares of Autodesk in the 4th quarter worth $25,000. Concord Wealth Partners bought a new stake in shares of Autodesk in the 3rd quarter worth $28,000. Transcendent Capital Group LLC bought a new stake in shares of Autodesk in the 3rd quarter worth $28,000. Central Pacific Bank Trust Division bought a new stake in shares of Autodesk in the 4th quarter worth $37,000. Finally, Sierra Ocean LLC bought a new stake in shares of Autodesk in the 4th quarter worth $39,000. Institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target for the company. in a research report on Friday, November 29th. Morgan Stanley increased their price target on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Scotiabank began coverage on shares of Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Finally, UBS Group began coverage on shares of Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $334.45.

Autodesk Trading Down 2.7 %

Shares of Autodesk stock opened at $291.02 on Friday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a market cap of $62.57 billion, a price-to-earnings ratio of 57.74, a PEG ratio of 3.05 and a beta of 1.43. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $298.62 and its 200-day moving average price is $284.86.

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