Autodesk, Inc. $ADSK Stock: GRIMES & Co WEALTH MANAGEMENT LLC Increases Holdings

Key Points

• GRIMES & Co WEALTH MANAGEMENT LLC increased its Autodesk stake by 22.3% in the third quarter, reaching 28,834 shares valued at approximately $6.03 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.
• Autodesk reported quarterly revenue of $2.05 billion and EPS of $3.30, exceeding analyst estimates. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $316.84, compared with shares trading at $257.91.

GRIMES & Co WEALTH MANAGEMENT LLC boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 22.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,834 shares of the software company's stock after buying an additional 5,265 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Autodesk were worth $6,026,000 at the end of the most recent quarter.

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

Autodesk Trading Up 3.3%

Shares of ADSK stock opened at $257.91 on Tuesday. The stock has a market cap of $53.90 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.61 and a beta of 1.33. The stock has a 50-day moving average of $232.53 and a 200-day moving average of $234.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $320.00.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADSK. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $305.00 target price on shares of Autodesk in a report on Thursday, September 17th. Guggenheim reaffirmed a "buy" rating and issued a $283.00 price objective on shares of Autodesk in a research note on Monday, September 21st. Wall Street Zen cut Autodesk from a "buy" rating to a "hold" rating in a research report on Monday. BNP Paribas Exane boosted their target price on Autodesk from $295.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. Finally, Argus reissued a "buy" rating and set a $355.00 target price on shares of Autodesk in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $316.84.

About Autodesk

Autodesk, Inc develops software and cloud-based services for the architecture, engineering, construction, manufacturing, media and entertainment industries. Its products help customers design, visualize, simulate and manage projects, products and digital content throughout their lifecycles.

The company's portfolio includes 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 and 3ds Max for animation, modeling and visual effects.

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