Anchor Capital Advisors LLC Reduces Stake in Autodesk, Inc. (NASDAQ:ADSK)

Anchor Capital Advisors LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,056 shares of the software company's stock after selling 9,876 shares during the quarter. Autodesk comprises approximately 1.2% of Anchor Capital Advisors LLC's portfolio, making the stock its 29th biggest holding. Anchor Capital Advisors LLC owned approximately 0.06% of Autodesk worth $40,510,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Autodesk by 3.0% during the 3rd 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 last quarter. FMR LLC raised its position in Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company's stock valued at $1,557,454,000 after purchasing an additional 46,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Autodesk by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company's stock worth $657,292,000 after purchasing an additional 61,785 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock worth $603,947,000 after purchasing an additional 245,816 shares in the last quarter. Finally, Starboard Value LP bought a new position in shares of Autodesk during the 3rd quarter valued at about $510,189,000. 90.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on ADSK shares. Barclays boosted their target price on Autodesk from $355.00 to $365.00 and gave the stock an "overweight" rating in a research report on Friday. Mizuho raised shares of Autodesk from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Bank of America upped their price objective on shares of Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. KeyCorp lifted their target price on shares of Autodesk from $330.00 to $335.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, HSBC downgraded shares of Autodesk from a "buy" rating to a "hold" rating and set a $290.00 price target for the company. in a research note on Friday, November 29th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $338.43.

Autodesk Stock Up 1.6 %

ADSK stock traded up $4.29 on Monday, reaching $278.50. 452,162 shares of the company traded hands, compared to its average volume of 1,502,718. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a fifty day simple moving average of $296.63 and a 200-day simple moving average of $287.42. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company has a market cap of $59.88 billion, a P/E ratio of 55.15, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43.

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.