Truist Financial Corp Purchases 1,457 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Truist Financial Corp grew its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 149,824 shares of the software company’s stock after purchasing an additional 1,457 shares during the quarter. Truist Financial Corp owned about 0.07% of Autodesk worth $44,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ADSK. Starboard Value LP bought a new position in Autodesk during the 3rd quarter worth approximately $510,189,000. International Assets Investment Management LLC raised its holdings in Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after purchasing an additional 566,826 shares during the last quarter. 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 valued at $156,296,000 after acquiring an additional 452,728 shares in 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 valued at $413,405,000 after acquiring an additional 387,309 shares in the last quarter. Finally, 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 valued at $2,702,028,000 after acquiring an additional 288,931 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $295.66 on Wednesday. The company’s 50-day moving average is $299.33 and its 200 day moving average is $284.26. 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 company has a market capitalization of $63.57 billion, a P/E ratio of 58.66, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. On average, equities research analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Macquarie assumed coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price objective for the company. UBS Group assumed coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective for the company. Rosenblatt Securities lifted their price objective on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.77.

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.