Autodesk, Inc. $ADSK Shares Bought by Ethic Inc.

Key Points

• Ethic Inc. increased its Autodesk stake by 13.2% in the third quarter, adding 4,206 shares to bring its holdings to 36,039 shares, valued at about $7.5 million.
• Institutional investors own 90.24% of Autodesk shares; several large funds, including State Street and Pictet Asset Management, also increased their positions.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $317.62. Autodesk’s latest reported quarter beat earnings and revenue estimates, with revenue up 16.1% year over year.

Ethic Inc. raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 13.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,039 shares of the software company's stock after buying an additional 4,206 shares during the quarter. Ethic Inc.'s holdings in Autodesk were worth $7,532,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Autodesk in the 2nd quarter worth $4,828,855,000. State Street Corp increased its position in Autodesk by 2.9% during the second quarter. State Street Corp now owns 10,268,172 shares of the software company's stock valued at $1,996,338,000 after acquiring an additional 284,621 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Autodesk by 5.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company's stock valued at $752,824,000 after acquiring an additional 155,255 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Autodesk by 12.1% in the third quarter. Pictet Asset Management Holding SA now owns 3,080,128 shares of the software company's stock worth $643,514,000 after purchasing an additional 333,485 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Autodesk in the second quarter worth about $576,727,000. 90.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ADSK shares. The Goldman Sachs Group raised shares of Autodesk from a "hold" rating to an "outperform" rating and set a $265.00 price target for the company in a research report on Thursday, September 17th. UBS Group reaffirmed a "buy" rating on shares of Autodesk in a report on Thursday, September 24th. Citigroup increased their price target on shares of Autodesk from $269.00 to $276.00 and gave the stock a "neutral" rating in a research report on Monday, August 31st. New Street Research set a $277.00 price target on shares of Autodesk in a research note on Thursday, August 20th. Finally, Barclays reissued an "overweight" rating on shares of Autodesk in a research report on Wednesday, August 19th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $317.62.

Autodesk Price Performance

Shares of Autodesk stock opened at $263.35 on Tuesday. The stock's 50-day simple moving average is $233.03 and its 200-day simple moving average is $234.16. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week high of $320.00. The company has a market capitalization of $55.04 billion, a price-to-earnings ratio of 31.33, a PEG ratio of 1.79 and a beta of 1.27. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.59.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter last year, the business posted $2.62 earnings per share. The firm's revenue was up 16.1% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. As a group, analysts expect that Autodesk, Inc. will post 9.70 earnings per share for the current fiscal year.

Autodesk Company Profile

Autodesk, Inc develops software and cloud-based services for designing, building, making, and creating digital media. Its tools support professionals and organizations across architecture, engineering, construction, manufacturing, and entertainment.

The company's products include AutoCAD for computer-aided design, Revit for building information modeling, Fusion for product design and manufacturing, and Maya and 3ds Max for 3D animation and visual effects. Autodesk also offers cloud services that help customers collaborate and manage design and construction projects.

Founded in 1982, Autodesk serves customers around the world.

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