State of Michigan Retirement System Sells 400 Shares of Autodesk, Inc. (NASDAQ:ADSK)

State of Michigan Retirement System decreased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,123 shares of the software company’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Autodesk were worth $17,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its position in Autodesk by 23.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,071 shares of the software company’s stock valued at $295,000 after buying an additional 201 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Autodesk during the 3rd quarter worth approximately $284,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Autodesk by 1.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 239,172 shares of the software company’s stock valued at $65,887,000 after purchasing an additional 4,571 shares during the last quarter. National Pension Service lifted its position in shares of Autodesk by 10.9% in the third quarter. National Pension Service now owns 629,402 shares of the software company’s stock worth $173,388,000 after purchasing an additional 61,622 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Autodesk by 2.0% during the third quarter. Asset Management One Co. Ltd. now owns 84,138 shares of the software company’s stock worth $23,178,000 after purchasing an additional 1,672 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Bank of America lifted their target price on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Wells Fargo & Company increased their price target on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. UBS Group boosted their price target on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Morgan Stanley increased their price objective on Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $338.43.

Autodesk Stock Down 1.7 %

Shares of NASDAQ ADSK opened at $267.43 on Wednesday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The stock’s fifty day moving average is $295.44 and its 200 day moving average is $287.71. 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 $57.50 billion, a P/E ratio of 53.06, a PEG ratio of 2.94 and a beta of 1.43.

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.