Autodesk, Inc. $ADSK Holdings Cut by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc cut its Autodesk stake by 35.4% in the first quarter, selling 53,516 shares and ending with 97,458 shares valued at about $23.3 million.
• Autodesk reported better-than-expected quarterly results, posting EPS of $2.99 versus estimates of $2.84 and revenue of $1.93 billion, up 18.4% year over year.
• Despite mixed price action and recent analyst target cuts from some firms, Wall Street remains broadly positive: Autodesk has a Moderate Buy consensus with an average price target of $326.10.

AEGON ASSET MANAGEMENT UK Plc reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 35.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,458 shares of the software company's stock after selling 53,516 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Autodesk were worth $23,329,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Autodesk by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock worth $6,362,192,000 after purchasing an additional 78,928 shares during the period. State Street Corp boosted its position in Autodesk by 0.7% during 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 position in Autodesk by 2.2% during 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. Arrowstreet Capital Limited Partnership grew its stake in Autodesk by 46.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock worth $884,884,000 after buying an additional 952,343 shares during the last quarter. Finally, Norges Bank bought a new position in Autodesk during the 4th quarter worth $867,480,000. 90.24% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Janesh Moorjani bought 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the transaction, the executive vice president directly owned 50,993 shares of the company's stock, valued at approximately $10,079,786.31. This represents a 5.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stacy J. Smith bought 3,435 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the purchase, the director owned 26,517 shares in the company, valued at $6,129,934.89. This trade represents a 14.88% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.14% of the company's stock.

Autodesk Price Performance

ADSK opened at $193.82 on Friday. The stock's 50 day moving average price is $231.38 and its 200 day moving average price is $251.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $40.90 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.19 and a beta of 1.29. Autodesk, Inc. has a 12 month low of $190.86 and a 12 month high of $329.09.

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

Analysts Set New Price Targets

A number of research firms have issued reports on ADSK. Arete Research cut their target price on Autodesk from $460.00 to $456.00 and set a "buy" rating on the stock in a research note on Thursday, March 26th. Stifel Nicolaus lowered their price target on shares of Autodesk from $375.00 to $285.00 and set a "buy" rating for the company in a research report on Monday, February 23rd. BNP Paribas Exane started coverage on shares of Autodesk in a report on Thursday. They issued an "outperform" rating and a $295.00 price objective on the stock. Jefferies Financial Group upgraded shares of Autodesk to a "strong-buy" rating in a research report on Tuesday, May 26th. Finally, UBS Group reissued a "buy" rating on shares of Autodesk in a research note on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $326.10.

Autodesk Profile

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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