Autodesk, Inc. $ADSK Shares Sold by KBC Group NV

Key Points

• KBC Group NV reduced its Autodesk stake by 10.3% in the first quarter, selling 16,247 shares and leaving it with 142,001 shares worth about $34.0 million.
• Analysts remain broadly positive on Autodesk, with a consensus rating of “Moderate Buy” and an average price target of $326.10. Recent notes included a Jefferies upgrade to strong-buy and multiple reaffirmed buy ratings.
• Autodesk posted stronger-than-expected quarterly results, reporting EPS of $2.99 on revenue of $1.93 billion, both above estimates, while revenue rose 18.4% year over year.

KBC Group NV trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,001 shares of the software company's stock after selling 16,247 shares during the period. KBC Group NV owned about 0.07% of Autodesk worth $33,995,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Piscataqua Savings Bank boosted its position in Autodesk by 33.3% during the 4th quarter. Piscataqua Savings Bank now owns 160 shares of the software company's stock worth $47,000 after acquiring an additional 40 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in shares of Autodesk by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 4,267 shares of the software company's stock valued at $1,263,000 after purchasing an additional 41 shares in the last quarter. Trust Point Inc. grew its stake in shares of Autodesk by 3.3% in the 4th quarter. Trust Point Inc. now owns 1,322 shares of the software company's stock worth $391,000 after purchasing an additional 42 shares during the last quarter. CENTRAL TRUST Co raised its holdings in shares of Autodesk by 6.2% in the 4th quarter. CENTRAL TRUST Co now owns 759 shares of the software company's stock worth $225,000 after purchasing an additional 44 shares in the last quarter. Finally, Smithfield Trust Co lifted its stake in Autodesk by 5.3% during the fourth quarter. Smithfield Trust Co now owns 893 shares of the software company's stock valued at $266,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ADSK shares. Jefferies Financial Group raised shares of Autodesk to a "strong-buy" rating in a research note on Tuesday, May 26th. Citigroup boosted their target price on Autodesk from $246.00 to $252.00 and gave the company a "neutral" rating 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 for the company in a research note on Friday, May 29th. Robert W. Baird reduced their price target on Autodesk from $355.00 to $312.00 and set an "outperform" rating for the company in a report on Friday, April 17th. Finally, UBS Group reissued a "buy" rating on shares of Autodesk in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and an average price target of $326.10.

Insider Buying and Selling

In other news, Director Stacy J. Smith bought 3,435 shares of the company's stock in a transaction dated Friday, May 29th. The stock was bought 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 of the company's stock, valued at $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Janesh Moorjani acquired 2,500 shares of Autodesk stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the transaction, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 7,935 shares of company stock valued at $1,666,644. Insiders own 0.14% of the company's stock.

Autodesk Stock Performance

NASDAQ ADSK opened at $217.80 on Tuesday. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The stock has a market cap of $45.96 billion, a P/E ratio of 31.75, a PEG ratio of 1.34 and a beta of 1.32. The company's 50-day simple moving average is $217.06 and its 200 day simple moving average is $237.33.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results 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. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company posted $2.29 EPS. The company's revenue was up 18.4% compared to the same quarter last year. 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 forecast that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

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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