Pinnacle Associates Ltd. raised its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 12.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 56,650 shares of the software company’s stock after acquiring an additional 6,445 shares during the period. Pinnacle Associates Ltd.’s holdings in Autodesk were worth $7,286,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alpha Windward LLC increased its holdings in shares of Autodesk by 11.5% during the fourth quarter. Alpha Windward LLC now owns 792 shares of the software company’s stock worth $102,000 after buying an additional 82 shares in the last quarter. CWM LLC increased its holdings in shares of Autodesk by 30.8% during the fourth quarter. CWM LLC now owns 523 shares of the software company’s stock worth $67,000 after buying an additional 123 shares in the last quarter. ETF Managers Group LLC increased its holdings in shares of Autodesk by 19.2% during the fourth quarter. ETF Managers Group LLC now owns 1,056 shares of the software company’s stock worth $136,000 after buying an additional 170 shares in the last quarter. Creative Planning increased its holdings in shares of Autodesk by 1.7% during the fourth quarter. Creative Planning now owns 11,807 shares of the software company’s stock worth $1,519,000 after buying an additional 194 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Autodesk by 11.4% during the fourth quarter. IFP Advisors Inc now owns 1,989 shares of the software company’s stock worth $253,000 after buying an additional 203 shares in the last quarter. 94.89% of the stock is owned by institutional investors.
In other Autodesk news, Director Crawford W. Beveridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $136.36, for a total value of $136,360.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on ADSK. Zacks Investment Research lowered shares of Autodesk from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. BidaskClub raised shares of Autodesk from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Oppenheimer lowered their price target on shares of Autodesk from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, November 21st. JPMorgan Chase & Co. lowered shares of Autodesk from an “overweight” rating to a “neutral” rating and set a $137.79 price target for the company. in a report on Thursday, December 13th. Finally, Stifel Nicolaus initiated coverage on shares of Autodesk in a report on Tuesday, December 18th. They issued a “buy” rating and a $163.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $158.75.
Shares of ADSK stock opened at $154.31 on Monday. Autodesk, Inc. has a 52-week low of $101.55 and a 52-week high of $159.94. The company has a market capitalization of $33.80 billion, a price-to-earnings ratio of -96.44, a price-to-earnings-growth ratio of 1.93 and a beta of 1.88.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 20th. The software company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $661.00 million during the quarter, compared to the consensus estimate of $641.07 million. During the same period in the previous year, the business posted ($0.12) earnings per share. Autodesk’s revenue was up 28.3% compared to the same quarter last year. On average, equities research analysts predict that Autodesk, Inc. will post 0.09 EPS for the current year.
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Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
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