Alta Capital Management LLC Sells 4,106 Shares of Autodesk, Inc. $ADSK

Key Points

• Alta Capital Management LLC reduced its holdings in Autodesk, Inc. by 2.8%, selling 4,106 shares and holding 144,562 shares valued at approximately $44.75 million at the end of the most recent quarter.
• Insider transactions included Steven M. Blum selling 22,420 shares at $323.75 each, decreasing his ownership by 63.12%, and total insider sales during the last quarter reached 35,386 shares valued at $11.43 million.
• Autodesk recently reported $1.46 EPS for the quarter, missing estimates, but revenue increased by 17.1% year-over-year, with analysts forecasting a consensus "Moderate Buy" rating and an average target price of $359.13.

Alta Capital Management LLC cut its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,562 shares of the software company's stock after selling 4,106 shares during the quarter. Autodesk makes up about 2.5% of Alta Capital Management LLC's investment portfolio, making the stock its 16th largest position. Alta Capital Management LLC owned approximately 0.07% of Autodesk worth $44,752,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SouthState Corp increased its holdings in Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after buying an additional 80 shares during the period. Costello Asset Management INC purchased a new position in shares of Autodesk during the 1st quarter worth $26,000. Close Asset Management Ltd acquired a new stake in shares of Autodesk during the 1st quarter worth about $27,000. Cheviot Value Management LLC acquired a new position in Autodesk in the 1st quarter valued at about $27,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of Autodesk during the first quarter worth about $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other news, EVP Steven M. Blum sold 22,420 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the sale, the executive vice president directly owned 13,099 shares of the company's stock, valued at $4,240,801.25. The trade was a 63.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ruth Ann Keene sold 2,761 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total value of $869,991.10. Following the sale, the executive vice president directly owned 80,255 shares in the company, valued at $25,288,350.50. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,386 shares of company stock valued at $11,433,201 in the last quarter. Company insiders own 0.15% of the company's stock.

Autodesk Stock Down 0.5%

Shares of Autodesk stock opened at $305.08 on Thursday. Autodesk, Inc. has a 1-year low of $232.67 and a 1-year high of $329.09. The company has a market capitalization of $64.98 billion, a P/E ratio of 63.16, a PEG ratio of 2.72 and a beta of 1.49. The business's fifty day moving average price is $308.49 and its two-hundred day moving average price is $295.00. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The software company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.99). Autodesk had a net margin of 15.75% and a return on equity of 51.23%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business posted $2.15 earnings per share. The firm's revenue for the quarter was up 17.1% compared to the same quarter last year. Autodesk has set its FY 2026 guidance at 9.800-9.980 EPS. Q3 2026 guidance at 2.480-2.510 EPS. As a group, research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADSK. HSBC set a $343.00 target price on Autodesk and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Piper Sandler upped their price objective on Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Berenberg Bank set a $370.00 target price on Autodesk in a report on Monday, September 1st. Wells Fargo & Company upped their price objective on Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Finally, Robert W. Baird increased their target price on Autodesk from $345.00 to $363.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and an average target price of $359.13.

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.

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