Independent Advisor Alliance Acquires 1,047 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Independent Advisor Alliance boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 24.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,280 shares of the software company’s stock after buying an additional 1,047 shares during the period. Independent Advisor Alliance’s holdings in Autodesk were worth $1,561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. LMR Partners LLP bought a new position in Autodesk during the third quarter worth about $12,643,000. Starboard Value LP bought a new position in Autodesk during the 3rd quarter worth approximately $510,189,000. China Universal Asset Management Co. Ltd. boosted its stake in Autodesk by 196.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after acquiring an additional 5,365 shares during the last quarter. Brookstone Capital Management grew its holdings in Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock valued at $8,659,000 after purchasing an additional 26,768 shares during the period. Finally, Erste Asset Management GmbH bought a new stake in Autodesk in the third quarter valued at approximately $20,087,000. 90.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ADSK shares. KeyCorp lifted their price target on shares of Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Citigroup reduced their target price on Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. 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. Robert W. Baird cut their price objective on Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, Oppenheimer boosted their price objective on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.43.

Autodesk Stock Performance

ADSK opened at $254.43 on Friday. The business’s 50-day simple moving average is $288.74 and its 200 day simple moving average is $287.36. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $54.19 billion, a PE ratio of 50.48, a PEG ratio of 2.94 and a beta of 1.51.

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.