Private Advisor Group LLC Lowers Position in Autodesk, Inc. (NASDAQ:ADSK)

Private Advisor Group LLC lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,972 shares of the software company’s stock after selling 1,252 shares during the period. Private Advisor Group LLC’s holdings in Autodesk were worth $2,652,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADSK. Golden State Wealth Management LLC purchased a new position in shares of Autodesk in the 4th quarter worth $25,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk in the 3rd quarter worth about $28,000. Concord Wealth Partners purchased a new position in shares of Autodesk in the 3rd quarter worth about $28,000. Central Pacific Bank Trust Division acquired a new position in shares of Autodesk in the 4th quarter valued at about $37,000. Finally, Sierra Ocean LLC purchased a new stake in Autodesk during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ADSK. Morgan Stanley lifted their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Stifel Nicolaus upped their target price on Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Oppenheimer increased their target price on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, KeyCorp increased their price objective on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.45.

Autodesk Stock Up 0.1 %

Shares of Autodesk stock opened at $285.26 on Tuesday. 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 has a 50-day moving average price of $297.86 and a 200 day moving average price of $286.32. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm has a market cap of $61.33 billion, a P/E ratio of 56.60, a P/E/G ratio of 3.00 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 53.87% and a net margin of 18.30%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. On average, sell-side analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

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.