Banque Pictet & Cie SA Sells 1,979 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Banque Pictet & Cie SA lowered its position in Autodesk, Inc. (NASDAQ:ADSK) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,956 shares of the software company’s stock after selling 1,979 shares during the period. Banque Pictet & Cie SA’s holdings in Autodesk were worth $10,923,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. State Street Corp increased its holdings in shares of Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after acquiring an additional 288,931 shares in the last quarter. FMR LLC grew its position in shares of 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 purchasing an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Autodesk by 2.7% during the 3rd 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 worth $657,292,000 after purchasing an additional 61,785 shares in the last quarter. Principal Financial Group Inc. raised its holdings in 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 buying an additional 245,816 shares during the period. Finally, Starboard Value LP bought a new position in Autodesk in the third quarter valued at approximately $510,189,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Trading Up 2.1 %

ADSK stock opened at $303.48 on Friday. The stock has a market cap of $65.25 billion, a price-to-earnings ratio of 60.21, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. The company has a fifty day moving average price of $299.58 and a two-hundred day moving average price of $282.74. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. 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 (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 EPS. Equities analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADSK shares. KeyCorp increased their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Scotiabank initiated coverage on Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target on the stock. Macquarie started coverage on Autodesk in a research report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price objective for the company. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Finally, Bank of America raised their price target on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average price target of $333.77.

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.