Banque Pictet & Cie SA Sells 1,979 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Banque Pictet & Cie SA cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,956 shares of the software company’s stock after selling 1,979 shares during the quarter. Banque Pictet & Cie SA’s holdings in Autodesk were worth $10,923,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ADSK. Oppenheimer raised their target price on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus lifted their price objective on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group started coverage on Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 target price on the stock. Rosenblatt Securities boosted their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Robert W. Baird raised their price objective on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $333.77.

Autodesk Stock Up 2.1 %

Shares of ADSK opened at $303.48 on Friday. The company has a market capitalization of $65.25 billion, a PE ratio of 60.21, a PEG ratio of 3.17 and a beta of 1.43. The stock’s 50-day moving average price is $299.58 and its two-hundred day moving average price is $282.74. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. 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 prior year, the business posted $1.33 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. On average, analysts anticipate 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.