Pinnacle Financial Partners Inc Sells 70 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Pinnacle Financial Partners Inc trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,909 shares of the software company’s stock after selling 70 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Autodesk were worth $564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Paradigm Asset Management Co. LLC bought a new position in Autodesk in the 4th quarter worth approximately $443,000. Waterfront Wealth Inc. boosted its position in shares of Autodesk by 2.6% during the 4th quarter. Waterfront Wealth Inc. now owns 4,260 shares of the software company’s stock valued at $1,259,000 after acquiring an additional 108 shares during the last quarter. Boston Financial Mangement LLC boosted its position in shares of Autodesk by 32.9% during the 4th quarter. Boston Financial Mangement LLC now owns 1,858 shares of the software company’s stock valued at $549,000 after acquiring an additional 460 shares during the last quarter. First Bank & Trust boosted its position in shares of Autodesk by 1.9% during the 4th quarter. First Bank & Trust now owns 8,186 shares of the software company’s stock valued at $2,420,000 after acquiring an additional 154 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in shares of Autodesk by 4.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 2,705 shares of the software company’s stock valued at $800,000 after acquiring an additional 127 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ADSK shares. HSBC downgraded Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a research report on Friday, November 29th. 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. Rosenblatt Securities increased their target price on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and increased their target price for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Finally, Robert W. Baird increased their price target on Autodesk from $330.00 to $345.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $334.45.

Autodesk Stock Performance

ADSK stock opened at $285.00 on Monday. 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 business’s fifty day simple moving average is $298.25 and its two-hundred day simple moving average is $286.00. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The firm has a market cap of $61.28 billion, a price-to-earnings ratio of 56.55, a PEG ratio of 3.00 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 earnings per share. Analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current year.

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.