Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,715 shares of the software company’s stock after acquiring an additional 60 shares during the period. HBK Sorce Advisory LLC’s holdings in Autodesk were worth $802,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ADSK. State Street Corp lifted its stake in shares of 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 purchasing an additional 288,931 shares during the last quarter. FMR LLC raised its holdings in Autodesk by 0.8% in the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after buying an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Autodesk by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after buying an additional 61,785 shares during the last quarter. Principal Financial Group Inc. boosted its stake 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 worth $603,947,000 after buying an additional 245,816 shares during the period. Finally, Starboard Value LP acquired a new stake in shares of Autodesk during the third quarter valued at about $510,189,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of Autodesk stock opened at $246.93 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The firm’s 50 day moving average is $289.53 and its two-hundred day moving average is $287.37. The firm has a market capitalization of $52.60 billion, a P/E ratio of 48.99, a P/E/G ratio of 2.94 and a beta of 1.51.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several recent analyst reports. HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a report on Friday, November 29th. Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Morgan Stanley raised their price objective on shares of Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Stifel Nicolaus cut their target price on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $338.43.

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.