Xponance Inc. Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Xponance Inc. grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,291 shares of the software company’s stock after purchasing an additional 218 shares during the quarter. Xponance Inc.’s holdings in Autodesk were worth $14,569,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after acquiring an additional 245,816 shares during the period. Empowered Funds LLC lifted its stake in Autodesk by 26.0% in the third quarter. Empowered Funds LLC now owns 4,743 shares of the software company’s stock worth $1,307,000 after acquiring an additional 979 shares during the period. Claro Advisors LLC purchased a new stake in Autodesk in the third quarter worth $387,000. Thrivent Financial for Lutherans lifted its stake in Autodesk by 101.6% in the third quarter. Thrivent Financial for Lutherans now owns 180,394 shares of the software company’s stock worth $49,696,000 after acquiring an additional 90,913 shares during the period. Finally, Quest Partners LLC purchased a new stake in Autodesk in the third quarter worth $760,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADSK. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research report on Friday, November 29th. Citigroup lowered their price objective on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. DA Davidson raised their price objective on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Finally, Oppenheimer raised their price objective on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus target price of $336.29.

Autodesk Price Performance

NASDAQ ADSK opened at $259.95 on Wednesday. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The stock has a 50-day moving average of $287.48 and a 200 day moving average of $287.83. The company has a market capitalization of $55.37 billion, a price-to-earnings ratio of 51.58, a PEG ratio of 2.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

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.