Autodesk, Inc. (NASDAQ:ADSK) Shares Purchased by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 196.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,099 shares of the software company’s stock after buying an additional 5,365 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Autodesk were worth $2,394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Starboard Value LP acquired a new stake in shares of Autodesk in the third quarter worth approximately $510,189,000. International Assets Investment Management LLC raised its stake in Autodesk by 58,375.5% during 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 purchasing an additional 566,826 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Autodesk by 394.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after purchasing an additional 452,728 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after buying an additional 387,309 shares during the period. Finally, State Street Corp increased its holdings in shares of Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADSK. Piper Sandler upgraded 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 report on Wednesday, January 8th. BMO Capital Markets lifted their price objective on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Robert W. Baird increased their target price 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. Morgan Stanley raised their price target on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, UBS Group initiated coverage on shares of Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $331.50.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK opened at $311.34 on Friday. 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 firm has a market cap of $66.94 billion, a price-to-earnings ratio of 61.77, a PEG ratio of 3.59 and a beta of 1.42. The business’s 50 day moving average is $299.08 and its two-hundred day moving average is $279.16.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) 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 analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. Analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal 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.