Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co cut its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 3.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,821 shares of the software company’s stock after selling 61 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Autodesk were worth $538,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ADSK. J.W. Cole Advisors Inc. lifted its holdings in Autodesk by 70.9% in the third quarter. J.W. Cole Advisors Inc. now owns 1,521 shares of the software company’s stock valued at $419,000 after acquiring an additional 631 shares during the last quarter. Concord Wealth Partners acquired a new position in Autodesk during the third quarter worth $28,000. China Universal Asset Management Co. Ltd. lifted its stake in Autodesk by 111.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,734 shares of the software company’s stock worth $753,000 after purchasing an additional 1,438 shares in the last quarter. Fidelis Capital Partners LLC lifted its stake in Autodesk by 4.3% during the third quarter. Fidelis Capital Partners LLC now owns 1,782 shares of the software company’s stock worth $510,000 after purchasing an additional 73 shares in the last quarter. Finally, Avitas Wealth Management LLC lifted its stake in Autodesk by 0.8% during the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after purchasing an additional 42 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Performance

Shares of ADSK stock opened at $285.67 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The stock’s 50-day moving average is $297.33 and its two-hundred day moving average is $286.62. The firm has a market cap of $61.42 billion, a price-to-earnings ratio of 56.68, a PEG ratio of 2.94 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company posted $1.33 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. 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. Scotiabank assumed coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target on the stock. Morgan Stanley upped their price target on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Finally, Citigroup increased their price objective on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

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.