Pinnacle Financial Partners Inc Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Pinnacle Financial Partners Inc lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,909 shares of the software company’s stock after selling 70 shares during the period. Pinnacle Financial Partners Inc’s holdings in Autodesk were worth $564,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ADSK. Starboard Value LP bought a new stake in Autodesk during the third quarter valued at about $510,189,000. Massachusetts Financial Services Co. MA boosted its position in Autodesk by 394.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after purchasing an additional 452,728 shares in the last quarter. Franklin Resources Inc. boosted its position in Autodesk by 36.5% during the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after purchasing an additional 387,309 shares in the last quarter. State Street Corp boosted its position in Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Trading Down 2.1 %

Shares of NASDAQ:ADSK opened at $285.00 on Monday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The stock has a market cap of $61.28 billion, a price-to-earnings ratio of 56.55, a PEG ratio of 3.00 and a beta of 1.43. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $298.25 and a 200-day moving average price of $286.00.

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

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of recent research reports. Macquarie initiated coverage on Autodesk in a research report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price objective on the stock. Citigroup raised their price objective on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Bank of America raised their price target on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Scotiabank started coverage on Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $334.45.

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.