Addison Advisors LLC Boosts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Addison Advisors LLC raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 157.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121 shares of the software company’s stock after purchasing an additional 74 shares during the period. Addison Advisors LLC’s holdings in Autodesk were worth $36,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADSK. Golden State Wealth Management LLC purchased a new position in Autodesk during the fourth quarter valued at $25,000. Concord Wealth Partners purchased a new position in Autodesk during the third quarter valued at $28,000. Transcendent Capital Group LLC purchased a new position in Autodesk during the third quarter valued at $28,000. Tradewinds Capital Management LLC raised its position in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after buying an additional 50 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Autodesk in the fourth quarter valued at about $37,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Down 0.5 %

NASDAQ ADSK opened at $283.72 on Wednesday. The firm has a 50 day simple moving average of $297.47 and a 200-day simple moving average of $286.63. 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 one year low of $195.32 and a one year high of $326.62. The firm has a market cap of $61.00 billion, a price-to-earnings ratio of 56.29, a PEG ratio of 2.94 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating 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 business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter 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

A number of brokerages have recently commented on ADSK. Barclays increased their target price on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Oppenheimer raised their price objective on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $280.00 to $400.00 in a research report on Tuesday, January 28th. KeyCorp raised their price objective 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. Finally, Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $334.45.

About Autodesk

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.