Commonwealth Equity Services LLC Lowers Position in Autodesk, Inc. (NASDAQ:ADSK)

Commonwealth Equity Services LLC cut its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,378 shares of the software company’s stock after selling 2,133 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Autodesk were worth $7,205,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted 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 last quarter. Empowered Funds LLC lifted its position in shares of Autodesk by 26.0% during the third quarter. Empowered Funds LLC now owns 4,743 shares of the software company’s stock valued at $1,307,000 after buying an additional 979 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Autodesk during the third quarter valued at about $760,000. Caprock Group LLC lifted its position in shares of Autodesk by 10.2% during the third quarter. Caprock Group LLC now owns 4,266 shares of the software company’s stock valued at $1,175,000 after buying an additional 394 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of Autodesk by 28.9% during the third quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after buying an additional 44 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADSK. Barclays upped their price objective on shares of Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Stifel Nicolaus cut their price objective on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, February 28th. HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a report on Friday, November 29th. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Finally, Scotiabank cut their price objective on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a report on Monday. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $336.29.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $267.82 on Friday. The stock has a market capitalization of $57.05 billion, a price-to-earnings ratio of 53.14, a PEG ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The firm’s 50 day simple moving average is $286.35 and its 200-day simple moving average is $287.55. 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 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.