Parallel Advisors LLC Has $843,000 Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Parallel Advisors LLC raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,853 shares of the software company’s stock after purchasing an additional 535 shares during the quarter. Parallel Advisors LLC’s holdings in Autodesk were worth $843,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ADSK shares. KeyCorp lifted their target price on shares of Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Bank of America lifted their target price on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Oppenheimer boosted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a research report on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $336.29.

Autodesk Price Performance

Shares of ADSK stock opened at $268.30 on Thursday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The firm has a market capitalization of $57.15 billion, a price-to-earnings ratio of 53.23, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. 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 fifty day moving average of $286.92 and a 200-day moving average of $287.69.

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.