Autodesk, Inc. (NASDAQ:ADSK) Stake Increased by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 23.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,853 shares of the software company’s stock after purchasing an additional 535 shares during the period. Parallel Advisors LLC’s holdings in Autodesk were worth $843,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Starboard Value LP purchased a new stake in shares of Autodesk during the third quarter worth $510,189,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Autodesk by 196.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after acquiring an additional 5,365 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after acquiring an additional 26,768 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Autodesk during the third quarter worth $20,087,000. Finally, Bank of Montreal Can raised its holdings in shares of Autodesk by 8.7% during the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after acquiring an additional 73,363 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Up 3.2 %

ADSK stock opened at $268.30 on Thursday. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a market cap of $57.15 billion, a PE ratio of 53.23, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The business’s 50-day simple moving average is $286.92 and its 200 day simple moving average is $287.69. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Analyst Ratings Changes

Several brokerages recently issued reports on ADSK. Oppenheimer increased their price objective on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a report on Friday, November 29th. Wells Fargo & Company raised their target price on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Bank of America raised their target price on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Seven 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 company has a consensus rating of “Moderate Buy” and an average price target of $336.29.

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.