Sumitomo Mitsui Trust Group Inc. Acquires 9,288 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 895,131 shares of the software company’s stock after purchasing an additional 9,288 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.42% of Autodesk worth $264,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in Autodesk in the third quarter worth about $27,000. Concord Wealth Partners bought a new stake in shares of Autodesk in the 3rd quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new position in Autodesk in the third quarter valued at approximately $28,000. Central Pacific Bank Trust Division bought a new position in Autodesk during the fourth quarter valued at $37,000. Finally, Wolff Wiese Magana LLC increased its position in Autodesk by 3,625.0% in the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock worth $41,000 after buying an additional 145 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADSK. Wells Fargo & Company increased their price target on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Barclays increased their target price on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup boosted their price target on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research report on Friday, November 29th. HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a report on Friday, November 29th. Finally, BMO Capital Markets boosted their target price on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $333.77.

Autodesk Stock Down 1.2 %

ADSK opened at $307.70 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. The business’s fifty day simple moving average is $299.01 and its 200 day simple moving average is $280.66. 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 $66.16 billion, a PE ratio of 61.05, a P/E/G ratio of 3.67 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts expect 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.