Proficio Capital Partners LLC Purchases New Shares in Autodesk, Inc. (NASDAQ:ADSK)

Proficio Capital Partners LLC purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 201,874 shares of the software company’s stock, valued at approximately $59,668,000.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Autodesk during the fourth quarter valued at about $25,000. Transcendent Capital Group LLC bought a new stake in Autodesk in the third quarter worth about $28,000. Tradewinds Capital Management LLC raised its position 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 acquiring an additional 50 shares during the period. Addison Advisors LLC raised its position in Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after acquiring an additional 74 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in Autodesk in the fourth quarter worth about $37,000. 90.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ADSK. Macquarie began coverage on shares of Autodesk in a research report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price objective on the stock. Oppenheimer lifted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Barclays boosted their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley boosted their price target on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, UBS Group assumed coverage on shares of Autodesk in a research report on Monday, December 2nd. They issued a “buy” rating and a $350.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $333.45.

Autodesk Price Performance

Shares of Autodesk stock opened at $282.35 on Friday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The stock has a market capitalization of $60.71 billion, a price-to-earnings ratio of 56.02, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. The company has a fifty day moving average of $297.11 and a 200-day moving average of $286.59. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

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