ICICI Prudential Asset Management Co Ltd Sells 2,074 Shares of Autodesk, Inc. (NASDAQ:ADSK)

ICICI Prudential Asset Management Co Ltd trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,873 shares of the software company’s stock after selling 2,074 shares during the period. Autodesk accounts for approximately 1.1% of ICICI Prudential Asset Management Co Ltd’s portfolio, making the stock its 18th largest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Autodesk were worth $10,012,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of Autodesk in the fourth quarter worth $25,000. Concord Wealth Partners bought a new position in shares of Autodesk in the third quarter worth $28,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk in the third quarter worth $28,000. Central Pacific Bank Trust Division purchased a new stake in shares of Autodesk in the fourth quarter worth $37,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Autodesk in the fourth quarter worth $39,000. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

Autodesk stock opened at $295.66 on Wednesday. The stock’s 50 day simple moving average is $299.16 and its two-hundred day simple moving average is $284.71. 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 cap of $63.57 billion, a price-to-earnings ratio of 58.66, a PEG ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

Autodesk (NASDAQ:ADSK) last posted 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 business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 EPS. As a group, analysts expect that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADSK has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird increased their price objective on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. UBS Group began coverage on Autodesk in a research report on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective on the stock. Wells Fargo & Company raised their price target on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets raised their price target on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $333.77.

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.