Autodesk, Inc. (NASDAQ:ADSK) is Ninety One UK Ltd’s 4th Largest Position

Ninety One UK Ltd reduced its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 3.2% during the 4th quarter, Holdings Channel reports. The fund owned 5,066,777 shares of the software company’s stock after selling 168,002 shares during the period. Autodesk makes up about 4.0% of Ninety One UK Ltd’s holdings, making the stock its 4th largest holding. Ninety One UK Ltd’s holdings in Autodesk were worth $1,497,587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Starboard Value LP purchased a new stake in Autodesk in the third quarter valued at $510,189,000. International Assets Investment Management LLC boosted its stake in shares of Autodesk by 58,375.5% in the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after buying an additional 566,826 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Autodesk by 394.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after acquiring an additional 452,728 shares during the period. Franklin Resources Inc. raised its position in Autodesk by 36.5% during the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after acquiring an additional 387,309 shares in the last quarter. Finally, State Street Corp lifted its holdings in Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after acquiring an additional 288,931 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of analyst reports. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research report on Friday, November 29th. KeyCorp upped their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Citigroup lifted their price target on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Finally, Bank of America increased their price target on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday. Eight investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $333.77.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was 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 directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $306.85 on Wednesday. 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 current ratio of 0.65 and a quick ratio of 0.65. The stock has a fifty day moving average price of $298.81 and a 200 day moving average price of $279.99. The company has a market cap of $65.97 billion, a PE ratio of 60.88, a P/E/G ratio of 3.67 and a beta of 1.43.

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

Autodesk 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.