Truist Financial Corp Purchases 1,457 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Truist Financial Corp boosted its position in Autodesk, Inc. (NASDAQ:ADSK) by 1.0% during the fourth quarter, HoldingsChannel reports. The fund owned 149,824 shares of the software company’s stock after buying an additional 1,457 shares during the quarter. Truist Financial Corp’s holdings in Autodesk were worth $44,283,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Autodesk by 3.0% in the 3rd 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 period. FMR LLC raised its stake in Autodesk by 0.8% in the 3rd 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 buying an additional 61,785 shares during the period. Principal Financial Group Inc. increased its position in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the period. Finally, Starboard Value LP bought a new stake in shares of Autodesk during the third quarter valued at about $510,189,000. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADSK has been the topic of several analyst reports. Rosenblatt Securities upped their price target on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Wells Fargo & Company upped their price target on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Robert W. Baird upped their price target on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, KeyCorp boosted their price objective on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. 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 company presently has an average rating of “Moderate Buy” and an average price target of $333.77.

Autodesk Stock Down 2.3 %

Shares of ADSK opened at $295.66 on Wednesday. The firm has a market cap of $63.57 billion, a P/E ratio of 58.66, a P/E/G ratio of 3.17 and a beta of 1.43. The stock has a 50 day simple moving average of $299.33 and a two-hundred day simple moving average of $284.26. 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, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share 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 analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

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.