Autodesk, Inc. $ADSK Shares Sold by Swedbank AB

Key Points

• Swedbank AB cut its Autodesk stake by 3.5% in the first quarter, selling 5,625 shares and ending with 154,340 shares valued at about $36.9 million.
• Autodesk reported better-than-expected quarterly results, posting EPS of $2.99 versus $2.84 expected and revenue of $1.93 billion, up 18.4% year over year.
• Wall Street remains broadly positive on the stock, with a Moderate Buy consensus and an average price target of $326.10, even as some firms adjusted their targets.

Swedbank AB lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 154,340 shares of the software company's stock after selling 5,625 shares during the period. Swedbank AB owned approximately 0.07% of Autodesk worth $36,949,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management boosted its holdings in Autodesk by 246.4% in the fourth quarter. OFI Invest Asset Management now owns 52,649 shares of the software company's stock valued at $15,585,000 after purchasing an additional 37,449 shares during the period. SG Americas Securities LLC increased its holdings in Autodesk by 158.4% during the 1st quarter. SG Americas Securities LLC now owns 272,548 shares of the software company's stock worth $65,248,000 after purchasing an additional 167,064 shares during the period. Man Group plc increased its holdings in Autodesk by 28.6% during the 4th quarter. Man Group plc now owns 1,229,946 shares of the software company's stock worth $364,076,000 after purchasing an additional 273,765 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Autodesk by 46.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 532,504 shares of the software company's stock valued at $157,627,000 after purchasing an additional 169,099 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Autodesk by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 946,476 shares of the software company's stock valued at $280,166,000 after purchasing an additional 4,845 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Down 3.0%

ADSK opened at $206.04 on Thursday. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week 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 business has a 50 day moving average price of $221.75 and a two-hundred day moving average price of $242.24. The company has a market cap of $43.47 billion, a PE ratio of 30.03, a P/E/G ratio of 1.31 and a beta of 1.32.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on ADSK. Citigroup boosted their price objective on Autodesk from $246.00 to $252.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Piper Sandler reduced their target price on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Royal Bank Of Canada decreased their price target on shares of Autodesk from $335.00 to $305.00 and set an "outperform" rating for the company in a research note on Friday, May 29th. UBS Group reiterated a "buy" rating on shares of Autodesk in a research note on Friday, May 29th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $330.00 price target on shares of Autodesk in a report on Monday, June 1st. Two 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $326.10.

Insider Activity

In related news, Director Stacy J. Smith acquired 3,435 shares of Autodesk stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the purchase, the director directly owned 26,517 shares of the company's stock, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Janesh Moorjani purchased 2,500 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares in the company, valued at approximately $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 7,935 shares of company stock valued at $1,666,644 in the last three months. 0.14% of the stock is currently owned by company 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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