Aberdeen Group plc Reduces Stock Position in Autodesk, Inc. $ADSK

Key Points

• Aberdeen Group plc reduced its Autodesk stake by 2.2% in the second quarter, selling 8,019 shares and retaining 349,158 shares valued at approximately $67.9 million. Institutional investors collectively own 90.24% of Autodesk.
• Autodesk insiders purchased 7,935 shares worth about $1.67 million during the last quarter, including acquisitions by Director Stacy J. Smith and EVP Janesh Moorjani.
• Analysts maintain a generally positive outlook, with Autodesk receiving a “Moderate Buy” consensus rating and an average price target of $321.07. The company also exceeded quarterly earnings and revenue expectations, reporting $2.99 in EPS and $1.93 billion in revenue.

Aberdeen Group plc trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,158 shares of the software company's stock after selling 8,019 shares during the period. Aberdeen Group plc owned approximately 0.17% of Autodesk worth $67,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADSK. Torren Management LLC bought a new position in shares of Autodesk in the fourth quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Autodesk in the 3rd quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Autodesk in the 4th quarter worth about $25,000. Archer Investment Corp lifted its position in Autodesk by 112.2% in the 4th quarter. Archer Investment Corp now owns 87 shares of the software company's stock worth $26,000 after buying an additional 46 shares during the last quarter. Finally, Prosperity Bancshares Inc bought a new stake in Autodesk in the fourth quarter worth $27,000. Institutional investors own 90.24% of the company's stock.

Insider Transactions at Autodesk

In other Autodesk news, Director Stacy J. Smith acquired 3,435 shares of the company's stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the acquisition, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Janesh Moorjani acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $197.67 per share, with a total value of $494,175.00. Following the acquisition, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ADSK has been the topic of several recent analyst reports. Morgan Stanley cut their target price on shares of Autodesk from $350.00 to $315.00 and set an "overweight" rating on the stock in a report on Tuesday, May 26th. The Goldman Sachs Group began coverage on shares of Autodesk in a report on Tuesday. They set a "neutral" rating and a $260.00 target price on the stock. Robert W. Baird decreased their price target on shares of Autodesk from $355.00 to $312.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Citigroup lifted their price target on shares of Autodesk from $246.00 to $252.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada cut their price objective on shares of Autodesk from $335.00 to $305.00 and set an "outperform" rating on the stock in a research report on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $321.07.

Autodesk Stock Down 2.4%

NASDAQ ADSK opened at $251.66 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $329.09. The stock's 50 day moving average is $216.31 and its 200 day moving average is $232.28. The stock has a market cap of $53.10 billion, a PE ratio of 36.69, a P/E/G ratio of 1.58 and a beta of 1.29.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The business's quarterly revenue was up 18.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Research analysts predict that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

About Autodesk

Autodesk, Inc NASDAQ: ADSK is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company's product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.

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