Platinum Investment Management Ltd. Acquires 2,628 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Platinum Investment Management Ltd. boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 153.9% in the 4th quarter, Holdings Channel reports. The firm owned 4,336 shares of the software company’s stock after buying an additional 2,628 shares during the period. Platinum Investment Management Ltd.’s holdings in Autodesk were worth $1,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mount Yale Investment Advisors LLC lifted its stake in Autodesk by 1.9% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after purchasing an additional 35 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in shares of Autodesk by 1.0% during the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after buying an additional 35 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Autodesk by 9.2% during the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after buying an additional 37 shares in the last quarter. Journey Strategic Wealth LLC increased its holdings in shares of Autodesk by 4.6% during the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock worth $247,000 after buying an additional 37 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Autodesk by 11.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock worth $106,000 after buying an additional 38 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADSK. Morgan Stanley upped their price target on shares of Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. BMO Capital Markets upped their price target on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Hsbc Global Res downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Macquarie restated an “outperform” rating and issued a $360.00 price objective on shares of Autodesk in a report on Friday, February 28th. Finally, Citigroup decreased their price objective on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $336.29.

Autodesk Price Performance

ADSK stock opened at $259.95 on Wednesday. The stock has a market capitalization of $55.37 billion, a PE ratio of 51.58, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The company’s 50-day moving average is $287.48 and its 200-day moving average is $287.83. 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 1 year low of $195.32 and a 1 year high of $326.62.

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.