Stoneridge Investment Partners LLC Boosts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Stoneridge Investment Partners LLC raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 27.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,540 shares of the software company’s stock after acquiring an additional 2,465 shares during the quarter. Autodesk makes up 1.2% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 26th largest position. Stoneridge Investment Partners LLC’s holdings in Autodesk were worth $3,411,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC boosted its stake in shares of Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after purchasing an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Autodesk by 2.7% during the 3rd 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 worth $657,292,000 after purchasing an additional 61,785 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares during the last quarter. Finally, Starboard Value LP acquired a new stake in shares of Autodesk in the third quarter worth approximately $510,189,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADSK. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Citigroup lifted their price target on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Rosenblatt Securities lifted their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Barclays lifted their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $333.77.

Autodesk Stock Down 2.1 %

Shares of NASDAQ:ADSK opened at $301.15 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $299.53 and a 200 day simple moving average of $281.24. The firm has a market cap of $64.75 billion, a PE ratio of 59.75, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 earnings per share. On average, equities research analysts anticipate that Autodesk, Inc. will post 5.76 EPS 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.