United Community Bank Decreases Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

United Community Bank cut its position in Autodesk, Inc. (NASDAQ:ADSK) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,420 shares of the software company’s stock after selling 45 shares during the quarter. United Community Bank’s holdings in Autodesk were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ADSK. Starboard Value LP purchased a new position in shares of Autodesk in the third quarter valued at $510,189,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Autodesk in the fourth quarter valued at $154,408,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Autodesk by 394.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after purchasing an additional 452,728 shares during the period. Raymond James Financial Inc. acquired a new stake in Autodesk in the fourth quarter valued at $116,828,000. Finally, Franklin Resources Inc. raised its holdings in Autodesk by 36.5% in the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after acquiring an additional 387,309 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADSK. Stifel Nicolaus cut their price target on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. BMO Capital Markets upped their price target 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. Finally, Macquarie reissued an “outperform” rating and set a $360.00 target price on shares of Autodesk in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $338.43.

Autodesk Stock Performance

Shares of ADSK opened at $259.75 on Friday. The firm has a 50-day moving average price of $293.21 and a 200 day moving average price of $287.69. The firm has a market capitalization of $55.85 billion, a PE ratio of 51.54, a P/E/G ratio of 2.94 and a beta of 1.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62.

Autodesk Company 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.