ARK Investment Management LLC Sells 2,751 Shares of Autodesk, Inc. (NASDAQ:ADSK)

ARK Investment Management LLC cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 18.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,513 shares of the software company’s stock after selling 2,751 shares during the quarter. ARK Investment Management LLC’s holdings in Autodesk were worth $3,698,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Autodesk during the fourth quarter valued at $25,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk during the 3rd quarter valued at about $28,000. Tradewinds Capital Management LLC boosted its holdings in shares of Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Concord Wealth Partners purchased a new position in shares of Autodesk during the third quarter valued at about $28,000. Finally, Addison Advisors LLC increased its holdings in shares of Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after purchasing an additional 74 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Trading Up 0.7 %

ADSK stock opened at $285.67 on Thursday. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The firm’s 50-day moving average is $297.33 and its 200 day moving average is $286.62. The company has a market capitalization of $61.42 billion, a PE ratio of 56.68, a P/E/G ratio of 2.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ADSK shares. Macquarie began coverage on Autodesk in a report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price target for the company. Morgan Stanley raised their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Citigroup upped their price target on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. UBS Group began coverage on shares of Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 price objective for the company. Finally, Scotiabank began coverage on shares of Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price on the stock. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.