Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,805 shares of the software company’s stock after selling 204 shares during the quarter. Kentucky Retirement Systems’ holdings in Autodesk were worth $4,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADSK. State Street Corp lifted its position in 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 acquiring an additional 288,931 shares during the period. FMR LLC raised its stake in shares of Autodesk by 0.8% in the third 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 lifted its holdings in shares of Autodesk by 2.7% during the third 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 period. Principal Financial Group Inc. boosted its position in Autodesk by 12.6% in 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. Finally, Starboard Value LP purchased a new stake in shares of Autodesk in the 3rd quarter valued at $510,189,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Price Performance

Autodesk stock opened at $285.00 on Friday. The company has a fifty day simple moving average of $298.25 and a 200-day simple moving average of $285.27. The firm has a market capitalization of $61.28 billion, a price-to-earnings ratio of 56.55, a PEG ratio of 3.08 and a beta of 1.43. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ADSK shares. Barclays upped their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. BMO Capital Markets raised their price objective on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Oppenheimer boosted their target price on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Macquarie started coverage on shares of Autodesk in a research report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price target on the stock. Finally, Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $334.45.

Autodesk Company 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.