Y Intercept Hong Kong Ltd Acquires 3,807 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Y Intercept Hong Kong Ltd lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 120.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,978 shares of the software company’s stock after acquiring an additional 3,807 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Autodesk were worth $2,062,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Autodesk in the fourth quarter worth about $25,000. Concord Wealth Partners bought a new stake in Autodesk in the third quarter worth about $28,000. Transcendent Capital Group LLC bought a new stake in Autodesk in the third quarter worth about $28,000. Tradewinds Capital Management LLC lifted its stake in Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Autodesk in the fourth quarter worth about $37,000. Institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADSK shares. Rosenblatt Securities raised their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company raised their price objective on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a research report on Friday, November 29th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus raised their target price on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $334.45.

Autodesk Stock Performance

Shares of ADSK stock opened at $285.26 on Tuesday. The firm has a market cap of $61.33 billion, a price-to-earnings ratio of 56.60, a PEG ratio of 2.94 and a beta of 1.43. The company’s 50 day moving average is $297.86 and its 200 day moving average is $286.32. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion during 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%. Autodesk’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. On average, sell-side analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

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.