Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 403,779 shares of the software company’s stock after selling 6,802 shares during the period. Rhumbline Advisers owned approximately 0.19% of Autodesk worth $119,345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADSK. Golden State Wealth Management LLC acquired a new stake in Autodesk during the fourth quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new stake in Autodesk during the third quarter valued at approximately $27,000. Concord Wealth Partners acquired a new stake in Autodesk during the third quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in Autodesk during the third quarter valued at approximately $28,000. Finally, Central Pacific Bank Trust Division acquired a new stake in Autodesk during the fourth quarter valued at approximately $37,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Performance

ADSK stock opened at $302.72 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. The company has a market capitalization of $65.08 billion, a price-to-earnings ratio of 60.06, a P/E/G ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The firm has a 50 day moving average of $299.44 and a two-hundred day moving average of $283.30.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. The business 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%. Autodesk’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. As a group, equities analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Analysts Set New Price Targets

ADSK has been the subject of several recent research reports. Stifel Nicolaus increased their target price 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. BMO Capital Markets boosted their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Macquarie assumed coverage on shares of Autodesk in a report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price target on the stock. Barclays boosted their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company boosted their price target on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $333.77.

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.