Meriwether Wealth & Planning LLC Purchases New Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Meriwether Wealth & Planning LLC purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 693 shares of the software company’s stock, valued at approximately $205,000.

A number of other large investors also recently bought and sold shares of the business. State Street Corp increased its stake in Autodesk by 3.0% during 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 purchasing an additional 288,931 shares in the last quarter. FMR LLC increased its stake in Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after purchasing an additional 46,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Autodesk by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after purchasing an additional 61,785 shares in the last quarter. Principal Financial Group Inc. increased its stake in Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares in the last quarter. Finally, Starboard Value LP bought a new stake in Autodesk during the 3rd quarter valued at about $510,189,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Price Performance

ADSK stock opened at $259.75 on Monday. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company’s fifty day moving average price is $293.21 and its 200-day moving average price is $287.95. 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 $55.85 billion, a PE ratio of 51.54, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADSK. Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Bank of America raised their price objective 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. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Scotiabank initiated coverage on shares of Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target for the company. Finally, Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $338.43.

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.