Sawgrass Asset Management LLC Lowers Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Sawgrass Asset Management LLC trimmed its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 44.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,637 shares of the software company's stock after selling 20,630 shares during the quarter. Sawgrass Asset Management LLC's holdings in Autodesk were worth $7,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADSK. Jag Capital Management LLC bought a new stake in shares of Autodesk during the 3rd quarter valued at $13,861,000. LMR Partners LLP purchased a new stake in Autodesk in the 3rd quarter worth $12,643,000. Starboard Value LP bought a new stake in Autodesk during the third quarter valued at about $510,189,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Autodesk by 196.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock valued at $2,394,000 after acquiring an additional 5,365 shares in the last quarter. Finally, Brookstone Capital Management boosted its stake in shares of Autodesk by 1,058.9% in the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company's stock worth $8,659,000 after acquiring an additional 26,768 shares during the period. Institutional investors own 90.24% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on ADSK shares. Barclays boosted their price target on Autodesk from $310.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. HSBC downgraded shares of Autodesk from a "buy" rating to a "hold" rating and set a $290.00 target price on the stock. in a report on Friday, November 29th. Robert W. Baird raised their target price on shares of Autodesk from $305.00 to $330.00 and gave the company an "outperform" rating in a research note on Monday, November 18th. Macquarie began coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an "outperform" rating and a $380.00 price target on the stock. Finally, Morgan Stanley increased their price objective on shares of Autodesk from $320.00 to $375.00 and gave the company an "overweight" rating in a report 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $333.77.

Autodesk Trading Down 0.3 %

Shares of ADSK traded down $0.76 during midday trading on Monday, hitting $302.72. The stock had a trading volume of 923,969 shares, compared to its average volume of 1,270,857. The stock's 50 day moving average is $299.44 and its 200 day moving average is $283.83. The firm has a market cap of $65.08 billion, a PE ratio of 60.06, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. 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 1 year low of $195.32 and a 1 year high of $326.62.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share 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 company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the company posted $1.33 EPS. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Autodesk 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.