Sage Mountain Advisors LLC Raises Position in Autodesk, Inc. (NASDAQ:ADSK)

Sage Mountain Advisors LLC grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,035 shares of the software company’s stock after purchasing an additional 79 shares during the period. Sage Mountain Advisors LLC’s holdings in Autodesk were worth $306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADSK. Principal Financial Group Inc. lifted its holdings in shares of Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares during the last quarter. Verdence Capital Advisors LLC purchased a new stake in shares of Autodesk during the 3rd quarter valued at $230,000. Assetmark Inc. lifted its holdings in shares of Autodesk by 282.0% during the 3rd quarter. Assetmark Inc. now owns 531 shares of the software company’s stock valued at $146,000 after purchasing an additional 392 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in Autodesk by 34.4% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,490 shares of the software company’s stock worth $410,000 after acquiring an additional 381 shares during the last quarter. Finally, Versor Investments LP purchased a new position in Autodesk in the 3rd quarter worth $496,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

NASDAQ:ADSK opened at $251.85 on Thursday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $54.15 billion, a PE ratio of 49.97, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The stock’s 50-day moving average price is $290.46 and its 200-day moving average price is $287.65.

Analyst Ratings Changes

ADSK has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on Autodesk from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. BMO Capital Markets raised their target price on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company raised their target price on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Macquarie restated an “outperform” rating and issued a $360.00 target price on shares of Autodesk in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $338.43.

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.