Autodesk, Inc. $ADSK Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 41.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,607 shares of the software company's stock after selling 36,305 shares during the period. Bank of Nova Scotia's holdings in Autodesk were worth $12,115,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Autodesk by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock worth $6,362,192,000 after acquiring an additional 78,928 shares during the last quarter. State Street Corp increased 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 worth $3,006,818,000 after purchasing an additional 70,053 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Autodesk by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock worth $1,677,404,000 after buying an additional 123,691 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 purchased a new stake in shares of Autodesk during the 4th quarter valued at approximately $867,480,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ADSK. Guggenheim initiated coverage on Autodesk in a report on Wednesday. They issued a "buy" rating and a $245.00 price objective on the stock. Bank of America reissued a "buy" rating and set a $300.00 target price on shares of Autodesk in a research note on Tuesday, May 12th. UBS Group restated a "buy" rating on shares of Autodesk in a report on Friday, May 29th. Wells Fargo & Company lowered their target price on shares of Autodesk from $350.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Finally, Citigroup lifted their price target on shares of Autodesk from $246.00 to $252.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $323.40.

Autodesk Stock Performance

Shares of ADSK stock opened at $209.75 on Monday. The company has a market cap of $44.26 billion, a P/E ratio of 30.58, a PEG ratio of 1.29 and a beta of 1.32. The firm has a fifty day moving average price of $214.93 and a 200 day moving average price of $234.95. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Autodesk, Inc. has a 12 month low of $185.50 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 the consensus estimate of $1.89 billion. During the same period in the previous year, the business earned $2.29 EPS. Autodesk's revenue for the quarter 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. Sell-side analysts predict that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Insider Activity at Autodesk

In related news, EVP Janesh Moorjani bought 2,500 shares of the stock in a transaction dated Monday, June 15th. The stock was acquired at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the acquisition, the executive vice president owned 50,993 shares in the company, 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 SEC, which can be accessed through the SEC website. Also, Director John T. Cahill bought 2,000 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at approximately $756,800. The trade was a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 7,935 shares of company stock valued at $1,666,644 over the last three months. 0.14% of the stock is owned by corporate insiders.

Autodesk Company 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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