Stoneridge Investment Partners LLC Raises Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Stoneridge Investment Partners LLC increased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 27.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,540 shares of the software company's stock after purchasing an additional 2,465 shares during the quarter. Autodesk makes up about 1.2% of Stoneridge Investment Partners LLC's investment portfolio, making the stock its 26th biggest holding. Stoneridge Investment Partners LLC's holdings in Autodesk were worth $3,411,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jag Capital Management LLC bought a new position in shares of Autodesk during the third quarter worth approximately $13,861,000. LMR Partners LLP bought a new position in Autodesk during the third quarter worth $12,643,000. Starboard Value LP acquired a new stake in Autodesk in the 3rd quarter valued at $510,189,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Autodesk by 196.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock worth $2,394,000 after acquiring an additional 5,365 shares during the last quarter. Finally, Brookstone Capital Management lifted its holdings 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 valued at $8,659,000 after purchasing an additional 26,768 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares of the company's stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Autodesk Trading Down 0.8 %

NASDAQ ADSK traded down $2.44 on Wednesday, hitting $297.28. 1,399,959 shares of the stock were exchanged, compared to its average volume of 1,328,912. The company's 50-day moving average price is $299.71 and its two-hundred day moving average price is $282.64. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $63.92 billion, a price-to-earnings ratio of 58.98, a P/E/G ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week 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 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company posted $1.33 earnings per share. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts predict that Autodesk, Inc. will post 5.76 EPS for the current year.

Wall Street Analyst Weigh In

ADSK has been the topic of several research reports. Barclays lifted their price objective on shares of Autodesk from $310.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. BMO Capital Markets raised their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a "market perform" rating in a report on Wednesday, November 27th. Rosenblatt Securities lifted their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Robert W. Baird increased their target price on Autodesk from $305.00 to $330.00 and gave the company an "outperform" rating in a report on Monday, November 18th. Finally, Piper Sandler upgraded shares of Autodesk from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and an average price target of $333.77.

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.