Proficio Capital Partners LLC Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Proficio Capital Partners LLC purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 201,874 shares of the software company’s stock, valued at approximately $59,668,000. Proficio Capital Partners LLC owned about 0.09% of Autodesk as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. State Street Corp raised its stake in shares of Autodesk by 3.0% during 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. FMR LLC raised its stake in shares of Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after acquiring an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 valued at $657,292,000 after acquiring an additional 61,785 shares during the last quarter. Principal Financial Group Inc. raised its stake in Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after buying an additional 245,816 shares during the last quarter. Finally, Starboard Value LP bought a new position in Autodesk during the third quarter worth $510,189,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Down 1.2 %

Shares of NASDAQ ADSK opened at $282.35 on Friday. The stock has a market capitalization of $60.71 billion, a P/E ratio of 56.02, a P/E/G ratio of 2.94 and a beta of 1.43. The company has a 50-day moving average price of $297.11 and a 200-day moving average price of $286.59. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share. On average, equities research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. KeyCorp lifted their target price on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Macquarie initiated coverage on shares of Autodesk in a research note on Thursday, December 12th. They set an “outperform” rating and a $380.00 target price for the company. BMO Capital Markets lifted their target price on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Finally, Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Eight 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, the stock has an average rating of “Moderate Buy” and an average price target of $333.45.

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.