Paces Ferry Wealth Advisors LLC Sells 183 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Paces Ferry Wealth Advisors LLC reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,620 shares of the software company’s stock after selling 183 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Autodesk were worth $479,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Starboard Value LP purchased a new stake in shares of Autodesk during the third quarter valued at approximately $510,189,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Autodesk during the 4th quarter valued at $154,408,000. Massachusetts Financial Services Co. MA boosted its position in Autodesk by 394.9% during 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 buying an additional 452,728 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Autodesk in the fourth quarter valued at about $116,828,000. Finally, Franklin Resources Inc. increased its position in shares of Autodesk by 36.5% in the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock valued at $413,405,000 after acquiring an additional 387,309 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ADSK shares. UBS Group raised their target price on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Bank of America lifted their price objective on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and upped their target price for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. KeyCorp lifted their price target on shares of Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a report on Friday, November 29th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $336.29.

Autodesk Stock Performance

Shares of Autodesk stock opened at $267.25 on Friday. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The firm’s 50-day moving average is $285.99 and its 200 day moving average is $287.82. The stock has a market cap of $56.92 billion, a price-to-earnings ratio of 53.03, a PEG ratio of 2.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

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.