Envestnet Portfolio Solutions Inc. Increases Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 19.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,743 shares of the software company's stock after purchasing an additional 2,772 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Autodesk were worth $4,949,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Starboard Value LP purchased a new position in Autodesk in the 3rd quarter valued at approximately $510,189,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Autodesk in the fourth quarter worth $154,408,000. Massachusetts Financial Services Co. MA grew its position in shares of Autodesk by 394.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company's stock valued at $156,296,000 after purchasing an additional 452,728 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Autodesk during the 4th quarter valued at $116,828,000. Finally, Franklin Resources Inc. lifted its holdings in Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company's stock worth $413,405,000 after purchasing an additional 387,309 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ADSK shares. BMO Capital Markets lifted their target price on Autodesk from $287.00 to $308.00 and gave the company a "market perform" rating in a report on Wednesday, November 27th. Macquarie reaffirmed an "outperform" rating and set a $360.00 price objective on shares of Autodesk in a research note on Friday, February 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $325.00 target price on shares of Autodesk in a research note on Tuesday, February 25th. Mizuho raised shares of Autodesk from a "neutral" rating to an "outperform" rating and raised their price target for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Finally, KeyCorp upped their price target on shares of Autodesk from $330.00 to $335.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $336.29.

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Autodesk Trading Down 0.2 %

Autodesk stock traded down $0.57 during mid-day trading on Friday, hitting $267.25. The company's stock had a trading volume of 2,014,212 shares, compared to its average volume of 1,589,856. The business has a 50 day moving average price of $285.99 and a 200-day moving average price of $287.62. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The stock has a market cap of $56.92 billion, a price-to-earnings ratio of 53.03, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

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.