Alberta Investment Management Corp Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Alberta Investment Management Corp bought a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,300 shares of the software company's stock, valued at approximately $2,453,000.

A number of other institutional investors have also made changes to their positions in ADSK. Starboard Value LP acquired a new position in Autodesk in the third quarter worth $510,189,000. International Assets Investment Management LLC lifted its position in shares of 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 worth $1,564,170,000 after buying an additional 566,826 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 buying an additional 452,728 shares during the period. Franklin Resources Inc. grew its position in shares of Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company's stock valued at $413,405,000 after buying an additional 387,309 shares during the last quarter. Finally, State Street Corp raised its stake in Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company's stock worth $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.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ADSK. Barclays lifted their target price on Autodesk from $310.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Hsbc Global Res lowered Autodesk from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Mizuho raised Autodesk from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $280.00 to $400.00 in a research report on Tuesday, January 28th. HSBC cut Autodesk from a "buy" rating to a "hold" rating and set a $290.00 target price on the stock. in a research note on Friday, November 29th. Finally, Piper Sandler upgraded shares of Autodesk from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $334.45.

Autodesk Trading Down 2.1 %

Shares of ADSK stock traded down $6.02 during trading hours on Friday, reaching $285.00. 1,670,110 shares of the stock traded hands, compared to its average volume of 1,382,891. 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 firm has a market capitalization of $61.28 billion, a PE ratio of 56.55, a PEG ratio of 3.08 and a beta of 1.43. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The business has a fifty day moving average price of $298.62 and a 200 day moving average price of $284.86.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The company's revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current year.

Autodesk Company 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.