Wrapmanager Inc. Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

Wrapmanager Inc. lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 10.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,664 shares of the software company’s stock after selling 312 shares during the period. Wrapmanager Inc.’s holdings in Autodesk were worth $787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Starboard Value LP purchased a new position in Autodesk in the third quarter worth approximately $510,189,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Autodesk by 394.9% in the 3rd 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 during the last quarter. Franklin Resources Inc. increased its position in shares of Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after purchasing an additional 387,309 shares during the last quarter. State Street Corp raised its holdings in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after buying an additional 288,931 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Autodesk by 12.6% in 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 buying an additional 245,816 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Barclays lifted their price objective on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. KeyCorp raised their target price on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Finally, Macquarie initiated coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price objective for the company. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $334.45.

Autodesk Stock Up 0.1 %

ADSK stock opened at $285.26 on Tuesday. The stock has a market cap of $61.33 billion, a P/E ratio of 56.60, a PEG ratio of 2.94 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. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company’s 50 day moving average is $297.86 and its two-hundred day moving average is $286.32.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.56 billion. During the same period last year, the business earned $1.33 EPS. Autodesk’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research 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.