Autodesk, Inc. (NASDAQ:ADSK) Shares Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,989 shares of the software company's stock after purchasing an additional 1,610 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Autodesk were worth $2,361,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp lifted its position in shares of Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company's stock valued at $2,702,028,000 after acquiring an additional 288,931 shares in the last quarter. FMR LLC boosted its stake in shares of Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company's stock worth $1,557,454,000 after purchasing an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 buying an additional 61,785 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock valued at $603,947,000 after buying an additional 245,816 shares during the last quarter. Finally, Starboard Value LP acquired a new position in shares of Autodesk in the third quarter valued at approximately $510,189,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Down 2.1 %

Shares of NASDAQ ADSK traded down $6.02 during trading on Friday, reaching $285.00. 1,670,110 shares of the stock were exchanged, compared to its average volume of 1,382,891. The company has a market capitalization of $61.28 billion, a price-to-earnings ratio of 56.55, a price-to-earnings-growth ratio of 3.08 and a beta of 1.43. The business's 50-day moving average price is $298.25 and its 200 day moving average price is $285.27. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the business posted $1.33 EPS. The firm's revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on ADSK shares. Piper Sandler raised shares of Autodesk from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Robert W. Baird lifted their price objective on Autodesk from $330.00 to $345.00 and gave the company an "outperform" rating in a research report on Wednesday. BMO Capital Markets increased their target price on Autodesk from $287.00 to $308.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 27th. Rosenblatt Securities raised their price target on Autodesk from $295.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company upped their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $334.45.

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.