Autodesk, Inc. $ADSK Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Autodesk stake by 3.1% in the first quarter, selling 81,950 shares but retaining 2.53 million shares worth approximately $605.9 million. Institutional investors collectively own 90.24% of Autodesk.
• Autodesk recently reported better-than-expected quarterly results, with EPS of $2.99 versus the $2.84 consensus and revenue of $1.93 billion, up 18.4% year over year.
• Insiders purchased 7,935 Autodesk shares worth about $1.67 million over the past three months. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $323.40 versus the stock’s reported $234.20 price.

Bank of America Corp DE lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,530,850 shares of the software company's stock after selling 81,950 shares during the period. Bank of America Corp DE owned about 1.20% of Autodesk worth $605,885,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of Autodesk in the third quarter valued at approximately $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Autodesk in the fourth quarter worth approximately $25,000. Torren Management LLC purchased a new stake in shares of Autodesk during the fourth quarter worth approximately $25,000. Archer Investment Corp increased its position in shares of Autodesk by 112.2% during the fourth quarter. Archer Investment Corp now owns 87 shares of the software company's stock worth $26,000 after purchasing an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in Autodesk in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $189.20 per share, with a total value of $378,400.00. Following the purchase, the director directly owned 4,000 shares in the company, valued at approximately $756,800. This trade represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stacy J. Smith purchased 3,435 shares of the stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director owned 26,517 shares in the company, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 7,935 shares of company stock worth $1,666,644. Insiders own 0.14% of the company's stock.

Autodesk Trading Down 0.3%

Shares of ADSK stock opened at $234.20 on Friday. The company's 50-day moving average price is $214.23 and its 200-day moving average price is $233.57. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The stock has a market cap of $49.42 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 1.44 and a beta of 1.32. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09.

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 (EPS) for the quarter, beating 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%. Autodesk's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. 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 analysts predict that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ADSK. Citigroup raised their price objective on Autodesk from $246.00 to $252.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Zacks Research lowered shares of Autodesk from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Jefferies Financial Group upgraded shares of Autodesk to a "strong-buy" rating in a research report on Tuesday, May 26th. Barclays decreased their price target on shares of Autodesk from $315.00 to $300.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Finally, Guggenheim began coverage on shares of Autodesk in a research report on Wednesday, July 22nd. They set a "buy" rating and a $245.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $323.40.

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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