Wrapmanager Inc. Sells 312 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Wrapmanager Inc. decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,664 shares of the software company’s stock after selling 312 shares during the period. Wrapmanager Inc.’s holdings in Autodesk were worth $787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ADSK. Jag Capital Management LLC purchased a new position in Autodesk during the 3rd quarter worth $13,861,000. LMR Partners LLP acquired a new stake in Autodesk in the third quarter worth about $12,643,000. Starboard Value LP purchased a new stake in shares of Autodesk during the third quarter worth about $510,189,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Autodesk by 196.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock valued at $2,394,000 after acquiring an additional 5,365 shares in the last quarter. Finally, Brookstone Capital Management raised its position in shares of Autodesk by 1,058.9% in the 4th quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock valued at $8,659,000 after purchasing an additional 26,768 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on ADSK shares. KeyCorp upped their price target on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Citigroup upped their target price on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research report on Friday, November 29th. UBS Group started coverage on Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target for the company. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Finally, Macquarie started coverage on Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $334.45.

Autodesk Price Performance

Shares of Autodesk stock opened at $285.26 on Tuesday. The firm has a market cap of $61.33 billion, a PE ratio of 56.60, a P/E/G ratio of 2.94 and a beta of 1.43. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. 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 has a 50-day moving average price of $297.86 and a 200 day moving average price of $286.32.

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