Sumitomo Mitsui Trust Group Inc. Grows Stake in Autodesk, Inc. (NASDAQ:ADSK)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 895,131 shares of the software company's stock after acquiring an additional 9,288 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.42% of Autodesk worth $264,574,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ADSK. Livelsberger Financial Advisory bought a new stake in Autodesk in the 3rd quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new stake in Autodesk in the 3rd quarter worth approximately $28,000. Concord Wealth Partners bought a new stake in Autodesk in the 3rd quarter worth approximately $28,000. Central Pacific Bank Trust Division bought a new stake in Autodesk in the fourth quarter valued at approximately $37,000. Finally, Union Savings Bank bought a new stake in Autodesk in the fourth quarter valued at approximately $41,000. Institutional investors own 90.24% of the company's stock.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now owns 30,249 shares of the company's stock, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Autodesk Stock Down 1.7 %

Autodesk stock traded down $5.27 during mid-day trading on Tuesday, hitting $299.72. The company had a trading volume of 1,375,445 shares, compared to its average volume of 1,326,274. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock's 50 day moving average price is $299.70 and its two-hundred day moving average price is $282.22. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a market capitalization of $64.44 billion, a PE ratio of 59.47, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.56 billion. During the same period in the previous year, the company posted $1.33 earnings per share. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Oppenheimer boosted their price objective on Autodesk from $300.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Macquarie assumed coverage on Autodesk in a research report on Thursday, December 12th. They issued an "outperform" rating and a $380.00 price objective for the company. UBS Group assumed coverage on Autodesk in a research report on Monday, December 2nd. They issued a "buy" rating and a $350.00 price objective for the company. Bank of America boosted their price objective on Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Finally, Barclays boosted their target price on Autodesk from $310.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $333.77.

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.