Snider Financial Group Lowers Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Snider Financial Group cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,814 shares of the software company’s stock after selling 1,004 shares during the quarter. Autodesk comprises approximately 1.3% of Snider Financial Group’s portfolio, making the stock its 23rd biggest holding. Snider Financial Group’s holdings in Autodesk were worth $4,083,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Starboard Value LP acquired a new stake in shares of Autodesk during the 3rd quarter worth $510,189,000. Massachusetts Financial Services Co. MA increased its stake 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 worth $156,296,000 after acquiring an additional 452,728 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Autodesk by 36.5% in 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 period. 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 in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADSK has been the subject of several research reports. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Bank of America upped their price target on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Citigroup decreased their target price on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Scotiabank initiated coverage on Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $338.43.

Autodesk Stock Performance

Autodesk stock opened at $267.43 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a fifty day moving average price of $295.44 and a two-hundred day moving average price of $287.71. The company has a market cap of $57.50 billion, a PE ratio of 53.06, a P/E/G ratio of 2.94 and a beta of 1.43.

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.