Anchor Capital Advisors LLC Sells 14,720 Shares of Autodesk, Inc. $ADSK

Key Points

• Anchor Capital Advisors reduced its Autodesk position by 10%, selling 14,720 shares in the second quarter and retaining 132,310 shares valued at approximately $25.7 million. Institutional investors collectively own 90.24% of Autodesk.
• Autodesk exceeded quarterly expectations, reporting $3.30 in earnings per share and $2.05 billion in revenue, with revenue up 16.1% year over year.
• Wall Street maintains a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $321.19, well above the reported share price of $217.90.

Anchor Capital Advisors LLC cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 10.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,310 shares of the software company's stock after selling 14,720 shares during the quarter. Anchor Capital Advisors LLC owned about 0.06% of Autodesk worth $25,724,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADSK. California State Teachers Retirement System grew its stake in shares of Autodesk by 18,825.0% in the second quarter. California State Teachers Retirement System now owns 58,596,827 shares of the software company's stock worth $11,392,395,000 after acquiring an additional 58,287,201 shares during the last quarter. BlackRock Inc. acquired a new position in Autodesk during the 2nd quarter valued at $4,828,855,000. State Street Corp boosted its holdings in Autodesk by 0.7% in the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company's stock valued at $3,006,818,000 after purchasing an additional 70,053 shares during the period. Geode Capital Management LLC boosted its holdings in Autodesk by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock valued at $1,677,404,000 after purchasing an additional 123,691 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Autodesk by 5.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company's stock worth $752,824,000 after purchasing an additional 155,255 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Price Performance

Shares of ADSK opened at $217.90 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $231.35 and a two-hundred day moving average price of $232.45. The stock has a market cap of $45.54 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 1.43 and a beta of 1.31. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, beating analysts' consensus estimates of $3.12 by $0.18. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the prior year, the business posted $2.62 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Equities analysts predict that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Insider Activity at Autodesk

In other Autodesk news, Director John Cahill bought 2,000 shares of Autodesk stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $189.20 per share, with a total value of $378,400.00. Following the acquisition, the director directly owned 4,000 shares of the company's stock, valued at $756,800. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the acquisition, the executive vice president directly owned 50,993 shares in the company, valued at approximately $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADSK. Citigroup boosted their price objective on shares of Autodesk from $269.00 to $276.00 and gave the stock a "neutral" rating in a report on Monday, August 31st. Guggenheim lifted their target price on Autodesk from $277.00 to $283.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Morgan Stanley lowered their price target on Autodesk from $350.00 to $315.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings raised Autodesk from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 31st. Finally, Wall Street Zen upgraded Autodesk from a "hold" rating to a "buy" rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $321.19.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.