Autodesk, Inc. $ADSK Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group reduced its Autodesk stake by 58.3% in the second quarter, selling 5,904 shares and retaining 4,218 shares worth approximately $820,000. Institutional investors and hedge funds collectively own 90.24% of Autodesk.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $318.03, despite several analysts lowering their targets. Director John Cahill also doubled his holdings by purchasing 2,000 shares.
• Autodesk recently exceeded quarterly expectations, reporting $3.30 in adjusted EPS and $2.05 billion in revenue, with revenue up 16.1% year over year. The stock opened at $216.95, compared with a 52-week range of $185.50 to $326.54.

Baird Financial Group Inc. decreased its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 58.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,218 shares of the software company's stock after selling 5,904 shares during the quarter. Baird Financial Group Inc.'s holdings in Autodesk were worth $820,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ADSK. BlackRock Inc. purchased a new position in Autodesk during the 2nd quarter valued at about $4,828,855,000. Geode Capital Management LLC lifted its position in shares of Autodesk by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock worth $1,677,404,000 after purchasing an additional 123,691 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Autodesk by 46.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock worth $884,884,000 after purchasing an additional 952,343 shares in the last quarter. Norges Bank purchased a new position in shares of Autodesk in the fourth quarter valued at approximately $867,480,000. Finally, Legal & General Group Plc boosted its stake in shares of Autodesk by 3.5% in the fourth quarter. Legal & General Group Plc now owns 2,089,026 shares of the software company's stock valued at $618,373,000 after purchasing an additional 69,668 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Autodesk news, Director John Cahill acquired 2,000 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the purchase, the director owned 4,000 shares in the company, valued at $756,800. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Autodesk from a "hold" rating to an "outperform" rating and set a $265.00 target price on the stock in a research note on Thursday. Rothschild & Co Redburn decreased their price target on shares of Autodesk from $375.00 to $360.00 and set a "buy" rating for the company in a research report on Monday, June 1st. Weiss Ratings downgraded shares of Autodesk from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday. Loop Capital cut their price objective on Autodesk from $250.00 to $235.00 and set a "hold" rating on the stock in a research report on Friday, May 29th. Finally, BNP Paribas Exane increased their price objective on Autodesk from $295.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $318.03.

Autodesk Price Performance

ADSK stock opened at $216.95 on Friday. The business has a 50 day moving average price of $233.39 and a 200 day moving average price of $231.70. The stock has a market cap of $45.34 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.42 and a beta of 1.31. Autodesk, Inc. has a fifty-two week low of $185.50 and a fifty-two week high of $326.54. 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 posted its earnings results on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, beating analysts' consensus estimates of $3.12 by $0.18. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The company's revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $2.62 EPS. 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 research analysts anticipate that Autodesk, Inc. will post 9.71 earnings per share for the current fiscal year.

Autodesk Company Profile

Autodesk, Inc develops software and cloud-based services for people and organizations that design, make and manage products, buildings, infrastructure and digital media. Its tools are used across architecture, engineering, construction, manufacturing, product design, media and entertainment, and related industries.

The company is best known for AutoCAD, its computer-aided design platform. Its broader portfolio includes Revit for building information modeling, Civil 3D for civil engineering, Inventor and Fusion for product design and manufacturing, Maya and 3ds Max for animation and visual effects, and construction-focused products such as Autodesk Construction Cloud.

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