LGT Fund Management Co Ltd. Raises Stake in Autodesk, Inc. (NASDAQ:ADSK)

LGT Fund Management Co Ltd. grew its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 142.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,858 shares of the software company's stock after acquiring an additional 1,679 shares during the period. LGT Fund Management Co Ltd.'s holdings in Autodesk were worth $845,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADSK. Pinnacle Associates Ltd. purchased a new position in Autodesk during the 3rd quarter valued at about $307,000. Stephens Inc. AR increased its stake in shares of Autodesk by 1.7% during the third quarter. Stephens Inc. AR now owns 11,079 shares of the software company's stock valued at $3,052,000 after purchasing an additional 180 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Autodesk by 23.1% during the third quarter. Farther Finance Advisors LLC now owns 1,071 shares of the software company's stock valued at $295,000 after purchasing an additional 201 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Autodesk in the 3rd quarter worth approximately $284,000. Finally, BSW Wealth Partners grew its stake in shares of Autodesk by 7.2% in the 3rd quarter. BSW Wealth Partners now owns 1,557 shares of the software company's stock worth $429,000 after buying an additional 105 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on ADSK. Oppenheimer boosted their target price on Autodesk from $300.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. KeyCorp upped their price target on shares of Autodesk from $330.00 to $335.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. UBS Group increased their price objective on shares of Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Scotiabank began coverage on shares of Autodesk in a report on Monday, November 18th. They issued a "sector outperform" rating and a $360.00 target price for the company. Finally, Piper Sandler upgraded shares of Autodesk from a "neutral" rating to an "overweight" rating and increased their price target for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Seven equities research 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 has an average rating of "Moderate Buy" and an average target price of $338.43.

Autodesk Stock Performance

Shares of Autodesk stock traded up $0.07 on Wednesday, hitting $267.50. 830,891 shares of the company's stock were exchanged, compared to its average volume of 1,556,668. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a 50-day simple moving average of $295.44 and a 200-day simple moving average of $287.71. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $57.51 billion, a PE ratio of 53.16, a PEG 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.