Truist Financial Corp Increases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Truist Financial Corp lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,824 shares of the software company's stock after buying an additional 1,457 shares during the period. Truist Financial Corp owned about 0.07% of Autodesk worth $44,283,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Jag Capital Management LLC bought a new position in shares of Autodesk in the third quarter worth about $13,861,000. LMR Partners LLP acquired a new position in Autodesk during the 3rd quarter worth approximately $12,643,000. Starboard Value LP bought a new position in Autodesk in the 3rd quarter valued at approximately $510,189,000. China Universal Asset Management Co. Ltd. boosted its position in Autodesk by 196.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock valued at $2,394,000 after buying an additional 5,365 shares in the last quarter. Finally, Brookstone Capital Management grew its stake in shares of Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company's stock worth $8,659,000 after buying an additional 26,768 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ADSK. Oppenheimer increased their price target on Autodesk from $300.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. KeyCorp increased their target price on Autodesk from $325.00 to $330.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. UBS Group initiated coverage on Autodesk in a report on Monday, December 2nd. They set a "buy" rating and a $350.00 price target on the stock. Morgan Stanley raised their price objective on shares of Autodesk from $320.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Autodesk from $340.00 to $350.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Autodesk currently has a consensus rating of "Moderate Buy" and a consensus target price of $334.45.

Autodesk Stock Down 2.1 %

Autodesk stock traded down $6.02 during midday trading on Friday, reaching $285.00. The stock had a trading volume of 1,670,110 shares, compared to its average volume of 1,382,891. The company has a market capitalization of $61.28 billion, a P/E ratio of 56.55, a PEG ratio of 3.08 and a beta of 1.43. The company has a fifty day moving average price of $298.62 and a two-hundred day moving average price of $284.86. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

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

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.