Autodesk, Inc. $ADSK Shares Sold by Eastern Bank

Key Points

• Eastern Bank cut its Autodesk stake by 87.9% in the second quarter, selling 49,100 shares and retaining 6,759 shares worth approximately $1.31 million. Institutional investors still own 90.24% of Autodesk.
• Autodesk insiders have recently purchased shares, including 2,500 shares bought by EVP Janesh Moorjani and 2,000 shares bought by Director John T. Cahill. Insiders bought 7,935 shares worth about $1.67 million over the past 90 days.
• Autodesk reported quarterly revenue of $1.93 billion and EPS of $2.99, exceeding analyst estimates, while revenue rose 18.4% year over year. Analysts maintain a consensus “Moderate Buy” rating with a $323.40 price target.

Eastern Bank reduced its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 87.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,759 shares of the software company's stock after selling 49,100 shares during the quarter. Eastern Bank's holdings in Autodesk were worth $1,314,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Autodesk in the fourth quarter worth $867,480,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Autodesk by 44,345.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company's stock worth $675,055,000 after buying an additional 2,275,384 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Autodesk by 46.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock valued at $884,884,000 after buying an additional 952,343 shares during the period. Wellington Management Group LLP raised its stake in Autodesk by 103.5% during the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company's stock worth $552,994,000 after acquiring an additional 950,149 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in Autodesk by 80.2% during the first quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company's stock worth $503,521,000 after acquiring an additional 936,388 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Transactions at Autodesk

In other news, EVP Janesh Moorjani bought 2,500 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the acquisition, the executive vice president directly owned 50,993 shares in the company, valued at approximately $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Cahill purchased 2,000 shares of the company's stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director owned 4,000 shares of the company's stock, valued at $756,800. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 7,935 shares of company stock valued at $1,666,644. Corporate insiders own 0.14% of the company's stock.

Autodesk Trading Up 1.1%

Shares of ADSK stock opened at $237.21 on Wednesday. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $329.09. The firm has a market capitalization of $50.05 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. The stock has a fifty day moving average of $214.09 and a two-hundred day moving average of $232.84. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm posted $2.29 earnings per share. The business's 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 expect that Autodesk, Inc. will post 9.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ADSK shares. DA Davidson restated a "buy" rating and issued a $325.00 target price on shares of Autodesk in a research note on Friday, May 29th. Piper Sandler cut their price target on Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Barclays reduced their price objective on Autodesk from $315.00 to $300.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Weiss Ratings downgraded Autodesk from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, July 10th. Finally, BNP Paribas Exane initiated coverage on Autodesk in a research report on Thursday, June 18th. They issued an "outperform" rating and a $295.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Autodesk currently has a consensus rating of "Moderate Buy" and a consensus price target of $323.40.

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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