Empower Advisory Group LLC Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Empower Advisory Group LLC cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,268 shares of the software company’s stock after selling 363 shares during the quarter. Empower Advisory Group LLC’s holdings in Autodesk were worth $2,444,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in Autodesk in the fourth quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in Autodesk during the third quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in Autodesk during the third quarter worth $28,000. Central Pacific Bank Trust Division acquired a new position in Autodesk during the fourth quarter worth $37,000. Finally, Sierra Ocean LLC acquired a new position in Autodesk during the fourth quarter worth $39,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ADSK shares. Scotiabank started coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target on the stock. Wells Fargo & Company increased their price objective on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Rosenblatt Securities increased their price objective on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets increased their price objective on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley increased their price objective on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and sixteen have issued 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 Performance

Shares of ADSK stock opened at $295.66 on Wednesday. The stock’s 50-day moving average is $299.33 and its two-hundred day moving average is $284.26. The firm has a market cap of $63.57 billion, a price-to-earnings ratio of 58.66, a PEG ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. 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 (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for 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 last year, the company posted $1.33 earnings per share. Analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current 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.