Waterfront Wealth Inc. Has $1.26 Million Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Waterfront Wealth Inc. lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,260 shares of the software company’s stock after buying an additional 108 shares during the quarter. Waterfront Wealth Inc.’s holdings in Autodesk were worth $1,259,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Autodesk during the 4th quarter worth about $25,000. Concord Wealth Partners acquired a new stake in shares of Autodesk during the 3rd quarter worth about $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Autodesk during the 3rd quarter worth about $28,000. Central Pacific Bank Trust Division acquired a new stake in shares of Autodesk during the 4th quarter worth about $37,000. Finally, Sierra Ocean LLC acquired a new stake in Autodesk in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Robert W. Baird lifted their price objective on shares of Autodesk from $330.00 to $345.00 and gave the stock an “outperform” rating in a research note on Wednesday. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research note on Friday, November 29th. Rosenblatt Securities lifted their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Scotiabank assumed coverage on shares of Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price objective for the company. Finally, KeyCorp lifted their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $334.45.

Autodesk Trading Down 2.7 %

ADSK opened at $291.02 on Friday. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week 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 firm has a market capitalization of $62.57 billion, a price-to-earnings ratio of 57.74, a PEG ratio of 3.05 and a beta of 1.43. The company’s 50 day moving average price is $298.62 and its two-hundred day moving average price is $284.86.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results 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. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 EPS. As a group, research analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current year.

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.