Autodesk, Inc. (NASDAQ:ADSK) Stock Position Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in Autodesk, Inc. (NASDAQ:ADSK) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,523 shares of the software company’s stock after selling 510 shares during the quarter. State of Alaska Department of Revenue’s holdings in Autodesk were worth $7,248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Starboard Value LP acquired a new stake in Autodesk during the third quarter valued at $510,189,000. International Assets Investment Management LLC lifted its holdings in shares of Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after buying an additional 566,826 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Autodesk by 394.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after buying an additional 452,728 shares in the last quarter. Franklin Resources Inc. increased 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 worth $413,405,000 after buying an additional 387,309 shares during the last quarter. Finally, 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 valued at $2,702,028,000 after acquiring an additional 288,931 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Autodesk Stock Down 1.2 %

ADSK opened at $307.70 on Friday. The firm has a market cap of $66.16 billion, a price-to-earnings ratio of 61.05, 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’s 50-day simple moving average is $299.01 and its 200-day simple moving average is $280.66. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ADSK shares. Wells Fargo & Company increased their price target on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. UBS Group started coverage on Autodesk in a report on Monday, December 2nd. They set a “buy” rating and a $350.00 target price on the stock. BMO Capital Markets upped their price target on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and increased their price target for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Finally, KeyCorp boosted their target price 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. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.77.

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.