Los Angeles Capital Management LLC Cuts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Los Angeles Capital Management LLC lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 49.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,977 shares of the software company’s stock after selling 76,310 shares during the period. Los Angeles Capital Management LLC’s holdings in Autodesk were worth $23,048,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Mount Yale Investment Advisors LLC boosted its position in Autodesk by 1.9% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after purchasing an additional 35 shares during the last quarter. Y.D. More Investments Ltd boosted its position in Autodesk by 1.0% in the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after purchasing an additional 35 shares during the last quarter. Grove Bank & Trust boosted its position in Autodesk by 9.2% in the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after purchasing an additional 37 shares during the last quarter. Journey Strategic Wealth LLC raised its stake in shares of Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock valued at $247,000 after buying an additional 37 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Autodesk by 11.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock valued at $106,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Autodesk stock opened at $283.72 on Wednesday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The business has a 50-day simple moving average of $297.47 and a 200 day simple moving average of $286.63. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $61.00 billion, a price-to-earnings ratio of 56.29, a PEG ratio of 2.94 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (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 firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the business earned $1.33 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ADSK shares. Rosenblatt Securities restated a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research note on Tuesday. Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Bank of America boosted their target price on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley boosted their target price on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $334.45.

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.