GraniteShares Advisors LLC Has $909,000 Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

GraniteShares Advisors LLC reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 19.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,074 shares of the software company’s stock after selling 729 shares during the period. GraniteShares Advisors LLC’s holdings in Autodesk were worth $909,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its holdings in Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the period. FMR LLC raised its holdings in Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after buying an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Autodesk by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after buying an additional 61,785 shares during the period. Principal Financial Group Inc. raised its holdings in Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after buying an additional 245,816 shares during the period. Finally, Starboard Value LP acquired a new stake in Autodesk during the 3rd quarter worth approximately $510,189,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADSK. UBS Group began coverage on shares of Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 price target for the company. Citigroup raised their price target on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Macquarie initiated coverage on shares of Autodesk in a research note on Thursday, December 12th. They set an “outperform” rating and a $380.00 price target for the company. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their target price for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus raised their target price on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

Autodesk Trading Down 0.5 %

ADSK opened at $283.72 on Wednesday. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a 50-day simple moving average of $297.47 and a 200 day simple moving average of $286.63. 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 stock has a market capitalization of $61.00 billion, a price-to-earnings ratio of 56.29, a P/E/G ratio of 2.94 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 earnings per share. Analysts predict that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Autodesk Profile

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.