Alta Capital Management LLC Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Alta Capital Management LLC reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 160,149 shares of the software company’s stock after selling 7,933 shares during the period. Autodesk makes up about 2.8% of Alta Capital Management LLC’s holdings, making the stock its 13th largest position. Alta Capital Management LLC owned about 0.07% of Autodesk worth $47,335,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Autodesk during the 4th quarter worth $25,000. Transcendent Capital Group LLC purchased a new stake in shares of Autodesk during the 3rd quarter worth $28,000. Tradewinds Capital Management LLC boosted its position in shares of Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Addison Advisors LLC raised its stake in shares of Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after buying an additional 74 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Autodesk during the 4th quarter worth $37,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Down 0.8 %

Shares of NASDAQ:ADSK opened at $272.03 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The stock has a market capitalization of $58.49 billion, a P/E ratio of 53.97, a PEG ratio of 2.94 and a beta of 1.43. The stock has a 50-day simple moving average of $296.12 and a 200-day simple moving average of $287.57.

Wall Street Analysts Forecast Growth

ADSK has been the subject of several research reports. Macquarie reaffirmed an “outperform” rating and set a $360.00 price target on shares of Autodesk in a research note on Friday. Barclays lifted their price target on Autodesk from $355.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Bank of America lifted their price target on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $338.43.

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.