Alta Capital Management LLC Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Alta Capital Management LLC lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.7% in the fourth quarter, Holdings Channel reports. The fund owned 160,149 shares of the software company’s stock after selling 7,933 shares during the quarter. Autodesk makes up about 2.8% of Alta Capital Management LLC’s holdings, making the stock its 13th biggest holding. Alta Capital Management LLC’s holdings in Autodesk were worth $47,335,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in Autodesk by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,345,471 shares of the software company’s stock worth $397,681,000 after acquiring an additional 46,777 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Autodesk by 3.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 16,229 shares of the software company’s stock worth $4,797,000 after acquiring an additional 553 shares during the period. Grandfield & Dodd LLC boosted its holdings in Autodesk by 0.6% in the 4th quarter. Grandfield & Dodd LLC now owns 143,689 shares of the software company’s stock worth $42,470,000 after acquiring an additional 881 shares during the period. LGT Fund Management Co Ltd. boosted its holdings in Autodesk by 142.4% in the 4th quarter. LGT Fund Management Co Ltd. now owns 2,858 shares of the software company’s stock worth $845,000 after acquiring an additional 1,679 shares during the period. Finally, LGT Group Foundation boosted its holdings in Autodesk by 7.2% in the 4th quarter. LGT Group Foundation now owns 137,432 shares of the software company’s stock worth $40,621,000 after acquiring an additional 9,259 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADSK. BMO Capital Markets upped their target price on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a research report on Friday, November 29th. KeyCorp upped their target price on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group upped their target price on Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday. Finally, Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $338.43.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $272.03 on Tuesday. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The business’s fifty day moving average price is $296.12 and its two-hundred day moving average price is $287.57. The firm has a market capitalization of $58.49 billion, a PE ratio of 53.97, a P/E/G ratio of 2.94 and a beta of 1.43.

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.