Forte Capital LLC ADV Has $12.64 Million Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Forte Capital LLC ADV cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,748 shares of the software company’s stock after selling 309 shares during the period. Autodesk comprises approximately 1.4% of Forte Capital LLC ADV’s holdings, making the stock its 21st largest holding. Forte Capital LLC ADV’s holdings in Autodesk were worth $12,635,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in Autodesk during the 4th quarter valued at $25,000. Concord Wealth Partners acquired a new stake in Autodesk during the 3rd quarter valued at $28,000. Transcendent Capital Group LLC acquired a new stake in Autodesk during the 3rd quarter valued at $28,000. Central Pacific Bank Trust Division acquired a new stake in Autodesk during the 4th quarter valued at $37,000. Finally, Sierra Ocean LLC acquired a new stake in Autodesk during the 4th quarter valued at $39,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADSK has been the subject of a number of recent analyst reports. Macquarie initiated coverage on Autodesk in a report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price target for the company. Citigroup raised their price target on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday, November 29th. HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target for the company. in a report on Friday, November 29th. UBS Group began coverage on Autodesk in a report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target for the company. Finally, Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $334.45.

Autodesk Stock Down 2.7 %

NASDAQ:ADSK opened at $291.02 on Friday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-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 firm has a market capitalization of $62.57 billion, a P/E ratio of 57.74, a P/E/G ratio of 3.05 and a beta of 1.43. The stock’s fifty day simple moving average is $298.62 and its 200-day simple moving average is $284.86.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. Equities research analysts expect 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.