Autodesk, Inc. $ADSK Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Autodesk stake by 817.7% in the third quarter, purchasing 222,941 additional shares and bringing its holdings to 250,207 shares valued at approximately $52.3 million.
• Institutional ownership remains high at 90.24%, with major investors including BlackRock, State Street, Arrowstreet Capital, Bank of America and Pictet Asset Management holding significant positions.
• Analysts maintain a generally positive outlook, giving Autodesk an average “Moderate Buy” rating and an average price target of $316.84. The company also surpassed quarterly earnings and revenue expectations, reporting $3.30 EPS and $2.05 billion in revenue.

Assenagon Asset Management S.A. lifted its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 817.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 250,207 shares of the software company's stock after purchasing an additional 222,941 shares during the quarter. Assenagon Asset Management S.A. owned about 0.12% of Autodesk worth $52,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADSK. BlackRock Inc. bought a new stake in shares of Autodesk during the second quarter worth $4,828,855,000. State Street Corp increased its stake in Autodesk by 2.9% in the 2nd quarter. State Street Corp now owns 10,268,172 shares of the software company's stock worth $1,996,338,000 after buying an additional 284,621 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Autodesk by 5.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company's stock worth $752,824,000 after buying an additional 155,255 shares during the period. Bank of America Corp DE bought a new stake in Autodesk during the 2nd quarter valued at about $576,727,000. Finally, Pictet Asset Management Holding SA lifted its holdings in Autodesk by 30.6% during the 2nd quarter. Pictet Asset Management Holding SA now owns 2,746,643 shares of the software company's stock valued at $534,014,000 after buying an additional 643,267 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADSK. Cantor Fitzgerald started coverage on shares of Autodesk in a research report on Monday, September 14th. They issued a "neutral" rating and a $215.00 price objective for the company. BNP Paribas Exane raised their target price on shares of Autodesk from $295.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 28th. DA Davidson set a $325.00 target price on shares of Autodesk in a research report on Friday, August 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $305.00 price target on shares of Autodesk in a research note on Thursday, September 17th. Finally, Weiss Ratings raised shares of Autodesk from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $316.84.

Autodesk Stock Performance

ADSK stock opened at $239.90 on Friday. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $320.00. The business has a 50-day moving average price of $232.69 and a 200 day moving average price of $227.97. The company has a market capitalization of $50.14 billion, a P/E ratio of 31.03, a PEG ratio of 1.59 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.86 and a quick ratio of 0.86.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.18. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the prior year, the business earned $2.62 EPS. The firm's quarterly revenue was up 16.1% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. As a group, equities research analysts forecast that Autodesk, Inc. will post 9.70 EPS for the current fiscal year.

Autodesk Company Profile

Autodesk, Inc develops software and cloud-based services for people and organizations involved in architecture, engineering, construction, manufacturing, media and entertainment, and other design-related industries. Its tools help customers create, visualize, simulate and manage digital models and workflows throughout the product and building lifecycle.

The company's products include AutoCAD for computer-aided design; Revit for building information modeling; Civil 3D for civil engineering and infrastructure design; Inventor and Fusion for product design and manufacturing; and Maya, 3ds Max and Arnold for media and entertainment production.

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