Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,763,761 shares of the software company’s stock after selling 428,584 shares during the quarter. Principal Financial Group Inc. owned about 0.82% of Autodesk worth $521,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Starboard Value LP acquired a new position in Autodesk in the 3rd quarter valued at about $510,189,000. International Assets Investment Management LLC boosted its holdings in Autodesk by 58,375.5% in the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after purchasing an additional 566,826 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in 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. raised its stake in shares of Autodesk by 36.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after acquiring an additional 387,309 shares during the period. Finally, State Street Corp raised its stake in shares of Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after acquiring an additional 288,931 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $302.72 on Monday. The business’s 50 day simple moving average is $299.44 and its 200-day simple moving average is $283.58. The firm has a market capitalization of $65.08 billion, a price-to-earnings ratio of 60.06, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping 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 analyst estimates of $1.56 billion. During the same quarter in the previous year, the company earned $1.33 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. UBS Group started coverage on shares of Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 target price on the stock. Scotiabank began coverage on shares of Autodesk in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price objective on the stock. Finally, Citigroup upped their target price on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.