China Universal Asset Management Co. Ltd. Raises Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

China Universal Asset Management Co. Ltd. lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 196.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,099 shares of the software company’s stock after acquiring an additional 5,365 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Autodesk were worth $2,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Jag Capital Management LLC purchased a new position in Autodesk during the 3rd quarter worth $13,861,000. LMR Partners LLP purchased a new stake in shares of Autodesk in the third quarter valued at about $12,643,000. Starboard Value LP acquired a new stake in shares of Autodesk during the third quarter worth about $510,189,000. Erste Asset Management GmbH purchased a new position in shares of Autodesk during the third quarter worth about $20,087,000. Finally, Brookstone Capital Management increased its position in Autodesk by 1,058.9% in the 4th quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock valued at $8,659,000 after acquiring an additional 26,768 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADSK. HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research report on Friday, November 29th. BMO Capital Markets increased their price target on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. KeyCorp boosted their price objective on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Morgan Stanley raised their target price on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Oppenheimer lifted their target price on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.50.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $311.34 on Friday. 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 $299.08 and its 200 day moving average price is $279.16. 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 $66.94 billion, a price-to-earnings ratio of 61.77, a PEG ratio of 3.59 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating 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 business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business earned $1.33 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

About Autodesk

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.