Principal Financial Group Inc. Sells 428,584 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Principal Financial Group Inc. decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 19.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,763,761 shares of the software company's stock after selling 428,584 shares during the quarter. Principal Financial Group Inc. owned about 0.82% of Autodesk worth $521,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ADSK. Golden State Wealth Management LLC bought a new position in shares of Autodesk in the fourth quarter worth $25,000. Livelsberger Financial Advisory bought a new position in Autodesk in the third quarter valued at $27,000. Concord Wealth Partners bought a new position in Autodesk in the third quarter valued at $28,000. Transcendent Capital Group LLC bought a new position in Autodesk in the third quarter valued at $28,000. Finally, Central Pacific Bank Trust Division bought a new position in Autodesk in the fourth quarter valued at $37,000. Institutional investors own 90.24% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ADSK. Piper Sandler raised Autodesk from a "neutral" rating to an "overweight" rating and increased their target price for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Hsbc Global Res lowered shares of Autodesk from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Rosenblatt Securities upped their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. UBS Group initiated coverage on shares of Autodesk in a research report on Monday, December 2nd. They set a "buy" rating and a $350.00 price target for the company. Finally, Citigroup upped their price target on shares of Autodesk from $358.00 to $361.00 and gave the company a "buy" rating in a research report on Friday, November 29th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $334.45.

Autodesk Stock Up 1.0 %

ADSK traded up $2.96 on Wednesday, hitting $298.62. The company had a trading volume of 889,192 shares, compared to its average volume of 1,344,599. 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 52-week low of $195.32 and a 52-week high of $326.62. The stock has a fifty day simple moving average of $299.16 and a 200-day simple moving average of $284.71. The firm has a market capitalization of $64.20 billion, a P/E ratio of 59.23, a P/E/G ratio of 3.12 and a beta of 1.43.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating 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 business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The business's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal 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.