Blue Trust Inc. Reduces Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Blue Trust Inc. lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 61.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 929 shares of the software company’s stock after selling 1,505 shares during the period. Blue Trust Inc.’s holdings in Autodesk were worth $274,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Jag Capital Management LLC purchased a new stake in shares of Autodesk during the third quarter valued at approximately $13,861,000. LMR Partners LLP purchased a new stake in shares of Autodesk during the third quarter valued at approximately $12,643,000. Starboard Value LP purchased a new stake in shares of Autodesk during the third quarter valued at approximately $510,189,000. China Universal Asset Management Co. Ltd. raised its stake 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 valued at $2,394,000 after purchasing an additional 5,365 shares during the period. Finally, Brookstone Capital Management grew its position 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 buying an additional 26,768 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK opened at $295.66 on Wednesday. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The firm has a fifty day moving average of $299.33 and a 200-day moving average of $284.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $63.57 billion, a price-to-earnings ratio of 58.66, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating 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 business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Oppenheimer raised their price target on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Citigroup raised their price target on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Stifel Nicolaus raised their price target on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Robert W. Baird raised their price target on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $333.77.

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.