Yousif Capital Management LLC Cuts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Yousif Capital Management LLC lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,987 shares of the software company’s stock after selling 1,299 shares during the quarter. Yousif Capital Management LLC’s holdings in Autodesk were worth $7,681,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its stake in 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 during the last quarter. FMR LLC lifted its position in shares of Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after purchasing an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Autodesk by 2.7% during the third 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. increased its holdings in Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the last quarter. Finally, Starboard Value LP acquired a new stake in Autodesk in the third quarter valued at $510,189,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADSK has been the subject of several analyst reports. Morgan Stanley upped their price objective on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and upped their price target for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. UBS Group initiated coverage on shares of Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $333.77.

Autodesk Stock Up 1.5 %

Shares of Autodesk stock opened at $311.36 on Thursday. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company has a market cap of $66.94 billion, a P/E ratio of 61.78, a PEG ratio of 3.67 and a beta of 1.43. 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 fifty day moving average of $298.59 and a two-hundred day moving average of $280.45.

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, topping the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the company posted $1.33 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.

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.