Northwest & Ethical Investments L.P. Lowers Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Northwest & Ethical Investments L.P. trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 14.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,526 shares of the software company’s stock after selling 12,368 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Autodesk were worth $21,437,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Autodesk during the 4th quarter worth approximately $25,000. Tradewinds Capital Management LLC grew its position in Autodesk by 100.0% during 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 during the period. Addison Advisors LLC grew its position in Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after buying an additional 74 shares during the period. Central Pacific Bank Trust Division purchased a new position in Autodesk in the fourth quarter valued at $37,000. Finally, Sierra Ocean LLC acquired a new position in shares of Autodesk in the fourth quarter worth about $39,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $268.30 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company has a 50-day simple moving average of $286.92 and a 200-day simple moving average of $287.69. The stock has a market capitalization of $57.15 billion, a price-to-earnings ratio of 53.23, a PEG ratio of 2.94 and a beta of 1.51.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADSK. Bank of America lifted their price target on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Robert W. Baird cut their price objective on Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. DA Davidson increased their target price on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Morgan Stanley boosted 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $325.00 price objective on shares of Autodesk in a report on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.29.

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.