Choate Investment Advisors Increases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Choate Investment Advisors raised its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 20.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,607 shares of the software company’s stock after buying an additional 446 shares during the period. Choate Investment Advisors’ holdings in Autodesk were worth $771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new stake in shares of Autodesk in the third quarter valued at $12,643,000. Starboard Value LP acquired a new stake in Autodesk in the 3rd quarter valued at about $510,189,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Autodesk by 196.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock valued at $2,394,000 after buying an additional 5,365 shares during the period. Brookstone Capital Management grew its position in shares of Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after buying an additional 26,768 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in shares of Autodesk during the third quarter worth approximately $20,087,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK opened at $254.43 on Monday. The stock has a market capitalization of $54.19 billion, a P/E ratio of 50.48, a P/E/G ratio of 2.94 and a beta of 1.51. 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 company’s fifty day moving average is $288.74 and its two-hundred day moving average is $287.80.

Wall Street Analyst Weigh In

Several research analysts have commented on ADSK shares. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Macquarie reissued an “outperform” rating and issued a $360.00 target price on shares of Autodesk in a report on Friday, February 28th. Scotiabank initiated coverage on Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Bank of America raised their target price on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Oppenheimer boosted their target price on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $338.43.

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.