KLP Kapitalforvaltning AS Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

KLP Kapitalforvaltning AS acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 98,012 shares of the software company’s stock, valued at approximately $28,969,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Autodesk in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC raised its stake in Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Addison Advisors LLC raised its stake in Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after purchasing an additional 74 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Autodesk in the 4th quarter valued at $37,000. Finally, Sierra Ocean LLC acquired a new position in Autodesk in the 4th quarter valued at $39,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on ADSK. Barclays increased their price objective on Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Scotiabank reduced their price target on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Rosenblatt Securities reiterated a “buy” rating and set a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. BMO Capital Markets lifted their price target on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley lifted their price target on Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Seven 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.29.

Autodesk Stock Performance

NASDAQ ADSK opened at $267.25 on Friday. The company has a market cap of $56.92 billion, a P/E ratio of 53.03, a P/E/G ratio of 2.94 and a beta of 1.51. 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 stock has a 50-day moving average of $285.99 and a two-hundred day moving average of $287.82. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

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.