Patten Group Inc. Acquires 2,047 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Patten Group Inc. boosted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 32.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,270 shares of the software company’s stock after purchasing an additional 2,047 shares during the period. Patten Group Inc.’s holdings in Autodesk were worth $2,444,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Pinnacle Associates Ltd. bought a new position in Autodesk during the third quarter worth about $307,000. Stephens Inc. AR boosted its holdings in Autodesk by 1.7% in the 3rd quarter. Stephens Inc. AR now owns 11,079 shares of the software company’s stock worth $3,052,000 after buying an additional 180 shares during the period. Farther Finance Advisors LLC boosted its holdings in Autodesk by 23.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,071 shares of the software company’s stock worth $295,000 after buying an additional 201 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Autodesk in the 3rd quarter valued at approximately $284,000. Finally, BSW Wealth Partners lifted its position in shares of Autodesk by 7.2% during the third quarter. BSW Wealth Partners now owns 1,557 shares of the software company’s stock worth $429,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of recent research reports. UBS Group raised their target price on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $325.00 target price on shares of Autodesk in a report on Tuesday, February 25th. Hsbc Global Res downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, Scotiabank initiated coverage on shares of Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus target price of $338.43.

Autodesk Stock Down 0.8 %

Shares of NASDAQ ADSK opened at $272.03 on Tuesday. The firm’s fifty day moving average is $296.12 and its 200 day moving average is $287.57. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $58.49 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 2.94 and a beta of 1.43.

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.