Vanguard Group Inc. Increases Position in Autodesk, Inc. (NASDAQ:ADSK)

Vanguard Group Inc. grew its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 0.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 20,385,461 shares of the software company’s stock after buying an additional 119,034 shares during the period. Vanguard Group Inc. owned 9.48% of Autodesk worth $6,025,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after acquiring an additional 245,816 shares during the period. King Luther Capital Management Corp purchased a new stake in shares of Autodesk in the third quarter valued at about $204,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Autodesk by 394.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after purchasing an additional 452,728 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of Autodesk by 1.7% during the third quarter. Centaurus Financial Inc. now owns 49,073 shares of the software company’s stock valued at $13,518,000 after buying an additional 821 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Autodesk by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 72,541 shares of the software company’s stock valued at $19,984,000 after buying an additional 9,697 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADSK has been the topic of several recent analyst reports. HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a research note on Friday, November 29th. Citigroup reduced their price objective on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. UBS Group increased their price target on shares of Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Macquarie reaffirmed an “outperform” rating and set a $360.00 price target on shares of Autodesk in a research note on Friday, February 28th. Finally, Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $336.29.

Autodesk Price Performance

ADSK opened at $267.25 on Monday. The company has a fifty day simple moving average of $285.99 and a 200 day simple moving average of $288.05. The firm has a market cap of $56.92 billion, a price-to-earnings ratio of 53.03, a PEG ratio of 2.94 and a beta of 1.51. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

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.