Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,710 shares of the software company’s stock after selling 57 shares during the quarter. Arizona State Retirement System’s holdings in Autodesk were worth $18,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADSK. Starboard Value LP acquired a new stake in shares of Autodesk in the 3rd quarter worth $510,189,000. Massachusetts Financial Services Co. MA increased its stake in shares of Autodesk by 394.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after acquiring an additional 452,728 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Autodesk by 36.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after acquiring an additional 387,309 shares during the last quarter. State Street Corp increased its stake in shares of Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after acquiring an additional 288,931 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after acquiring an additional 245,816 shares during the last quarter. 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. DA Davidson raised their price objective on Autodesk from $275.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Citigroup cut their price objective on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Barclays raised their price objective on Autodesk from $355.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Macquarie reissued an “outperform” rating and set a $360.00 price objective on shares of Autodesk in a research report on Friday, February 28th. Finally, Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $280.00 to $400.00 in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $338.43.

Autodesk Stock Performance

Shares of ADSK opened at $267.24 on Thursday. The stock has a 50-day simple moving average of $294.76 and a 200-day simple moving average of $287.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $57.46 billion, a PE ratio of 53.02, a PEG ratio of 2.94 and a beta of 1.43. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

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.