Panoramic Capital Partners LLC Invests $268,000 in Autodesk, Inc. (NASDAQ:ADSK)

Panoramic Capital Partners LLC acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 906 shares of the software company's stock, valued at approximately $268,000.

A number of other hedge funds also recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new position in shares of Autodesk during the fourth quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new position in shares of Autodesk during the third quarter worth approximately $27,000. Concord Wealth Partners bought a new position in shares of Autodesk during the third quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk during the third quarter worth approximately $28,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Autodesk during the fourth quarter worth approximately $37,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ADSK. Wells Fargo & Company increased their target price on Autodesk from $340.00 to $350.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Mizuho upgraded Autodesk from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. HSBC lowered Autodesk from a "buy" rating to a "hold" rating and set a $290.00 target price on the stock. in a research note on Friday, November 29th. Barclays raised their price objective on Autodesk from $310.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, Rosenblatt Securities raised their price objective on Autodesk from $295.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Eight research 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, the company has an average rating of "Moderate Buy" and an average target price of $333.77.

Autodesk Price Performance

Shares of NASDAQ ADSK traded down $0.76 during mid-day trading on Friday, hitting $302.72. 923,969 shares of the stock traded hands, compared to its average volume of 1,314,055. 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 twelve month low of $195.32 and a twelve month high of $326.62. The company 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 firm has a 50 day simple moving average of $299.54 and a two-hundred day simple moving average of $282.88.

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

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.