Bank of New York Mellon Corp Lowers Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Bank of New York Mellon Corp trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK) by 6.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,481,608 shares of the software company’s stock after selling 105,059 shares during the period. Bank of New York Mellon Corp’s holdings in Autodesk were worth $437,919,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ADSK. Golden State Wealth Management LLC purchased a new stake in Autodesk in the fourth quarter valued at approximately $25,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk during the third quarter worth $28,000. Tradewinds Capital Management LLC grew its stake in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Concord Wealth Partners purchased a new stake in shares of Autodesk in the 3rd quarter valued at $28,000. Finally, Addison Advisors LLC lifted its stake in Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after acquiring an additional 74 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADSK has been the subject of several research reports. Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. UBS Group started coverage on shares of Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective for the company. Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their price target for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Finally, Barclays upped their price objective on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $334.45.

Autodesk Trading Down 0.5 %

Shares of Autodesk stock opened at $283.72 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $297.47 and a 200-day simple moving average of $286.63. The stock has a market cap of $61.00 billion, a price-to-earnings ratio of 56.29, a PEG ratio of 2.94 and a beta of 1.43. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data 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 company 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 revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, equities analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

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.