Patten Group Inc. Purchases 2,047 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Patten Group Inc. boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,270 shares of the software company’s stock after buying an additional 2,047 shares during the quarter. Patten Group Inc.’s holdings in Autodesk were worth $2,444,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ADSK. Starboard Value LP acquired a new stake in Autodesk during the 3rd quarter valued at approximately $510,189,000. Massachusetts Financial Services Co. MA boosted 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 purchasing an additional 452,728 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Autodesk by 36.5% during the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after buying an additional 387,309 shares during the period. State Street Corp raised its stake in Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Performance

NASDAQ ADSK opened at $272.03 on Tuesday. The company has a fifty day moving average price of $296.12 and a 200-day moving average price of $287.57. The firm has a market cap of $58.49 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 2.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ADSK shares. Morgan Stanley lifted their price objective on Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday. Scotiabank began coverage on Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price for the company. Barclays boosted their price target on Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus reduced their price objective on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Friday. Finally, Citigroup dropped their target price on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.43.

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.