Anchor Capital Advisors LLC Sells 9,876 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Anchor Capital Advisors LLC trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 137,056 shares of the software company’s stock after selling 9,876 shares during the period. Autodesk makes up about 1.2% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Anchor Capital Advisors LLC owned 0.06% of Autodesk worth $40,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC lifted its stake in Autodesk by 1.9% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after purchasing an additional 35 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of Autodesk by 1.0% in the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after buying an additional 35 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Autodesk by 9.2% during the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after buying an additional 37 shares during the period. Journey Strategic Wealth LLC boosted its stake in Autodesk by 4.6% in the 4th quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock valued at $247,000 after buying an additional 37 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Autodesk by 11.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock valued at $106,000 after buying an additional 38 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADSK has been the subject of several recent analyst reports. Scotiabank initiated coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective for the company. Stifel Nicolaus increased their target price 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. UBS Group assumed coverage on shares of Autodesk in a research report on Monday, December 2nd. They issued a “buy” rating and a $350.00 price target on the stock. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Finally, Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $333.45.

Autodesk Stock Performance

ADSK stock opened at $282.35 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The business’s fifty day moving average is $297.11 and its 200-day moving average is $286.59. The company has a market cap of $60.71 billion, a P/E ratio of 56.02, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its 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 for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Equities research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current year.

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.