Arrowstreet Capital Limited Partnership Raises Stock Position in Autodesk, Inc. $ADSK

Key Points

• Arrowstreet Capital boosted its Autodesk stake by 46.8% in the fourth quarter, ending with 2,989,372 shares valued at about $884.9 million.
• Autodesk reported better-than-expected Q1 results, with EPS of $2.99 versus estimates of $2.84 and revenue of $1.93 billion, up 18.4% year over year.
• The stock fell about 3.5% to $198.43, while analysts maintained a generally bullish view with a Moderate Buy consensus and an average price target of $327.21.

Arrowstreet Capital Limited Partnership boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 46.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,989,372 shares of the software company's stock after acquiring an additional 952,343 shares during the period. Arrowstreet Capital Limited Partnership owned 1.41% of Autodesk worth $884,884,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Autodesk by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock valued at $6,362,192,000 after purchasing an additional 78,928 shares during the last quarter. State Street Corp lifted its position in Autodesk by 0.7% during the fourth 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 last quarter. Geode Capital Management LLC lifted its position in Autodesk by 2.2% during the fourth 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 last quarter. Norges Bank bought a new stake in Autodesk during the fourth quarter valued at approximately $867,480,000. Finally, Amundi lifted its position in Autodesk by 3.0% during the third quarter. Amundi now owns 2,726,105 shares of the software company's stock valued at $881,704,000 after purchasing an additional 79,171 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insider Buying and Selling

In other news, Director Stacy J. Smith purchased 3,435 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the acquisition, the director directly owned 26,517 shares of the company's stock, valued at $6,129,934.89. This represents a 14.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by corporate insiders.

Autodesk Trading Down 3.5%

Shares of ADSK opened at $198.43 on Friday. The firm has a market cap of $41.87 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 1.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. Autodesk, Inc. has a fifty-two week low of $194.47 and a fifty-two week high of $329.09. The firm has a 50 day moving average price of $235.55 and a 200-day moving average price of $255.52.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $0.15. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business's quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 EPS. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. As a group, equities research analysts forecast that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Wall Street Analyst Weigh In

ADSK has been the subject of several research analyst reports. Arete Research dropped their target price on shares of Autodesk from $460.00 to $456.00 and set a "buy" rating for the company in a research report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Autodesk from $375.00 to $330.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Piper Sandler dropped their target price on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. Rosenblatt Securities reiterated a "buy" rating and set a $330.00 target price on shares of Autodesk in a research report on Monday, June 1st. Finally, Wells Fargo & Company dropped their target price on shares of Autodesk from $350.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. Two equities research 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, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus price target of $327.21.

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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