Autodesk, Inc. $ADSK Stock Position Cut by Investment House LLC

Key Points

• Investment House LLC cut its Autodesk stake by 32.2% in the third quarter, selling 20,226 shares and retaining 42,513 shares valued at approximately $8.9 million. Institutional investors collectively own 90.24% of Autodesk.
• Analysts remain broadly positive, with Autodesk receiving a “Moderate Buy” consensus rating and an average price target of $316.84. Recent targets ranged from $276 to $355.
• Autodesk shares were trading at $254.95, up 4.1%, while the company reported quarterly revenue of $2.05 billion and adjusted earnings of $3.30 per share, exceeding analyst expectations.

Investment House LLC lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 32.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,513 shares of the software company's stock after selling 20,226 shares during the quarter. Investment House LLC's holdings in Autodesk were worth $8,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. E. Ohman J or Asset Management AB boosted its position in Autodesk by 12.2% during the third quarter. E. Ohman J or Asset Management AB now owns 143,608 shares of the software company's stock worth $30,014,000 after purchasing an additional 15,590 shares during the period. Sage Private Wealth Group LLC bought a new position in Autodesk in the third quarter valued at about $220,000. Strengthening Families & Communities LLC increased its holdings in shares of Autodesk by 2.1% during the third quarter. Strengthening Families & Communities LLC now owns 7,647 shares of the software company's stock worth $1,598,000 after buying an additional 157 shares in the last quarter. Sowell Financial Services LLC raised its holdings in Autodesk by 60.6% in the 3rd quarter. Sowell Financial Services LLC now owns 3,539 shares of the software company's stock valued at $740,000 after buying an additional 1,335 shares during the last quarter. Finally, Capstone Capital Management Ltd bought a new stake in shares of Autodesk in the 3rd quarter valued at about $319,000. 90.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADSK. BMO Capital Markets boosted their price objective on Autodesk from $262.00 to $283.00 and gave the company a "market perform" rating in a research note on Friday, August 28th. Piper Sandler initiated coverage on shares of Autodesk in a report on Monday, September 28th. They set an "overweight" rating and a $300.00 price target on the stock. Argus reissued a "buy" rating and set a $355.00 target price on shares of Autodesk in a research report on Wednesday, September 2nd. Wall Street Zen upgraded shares of Autodesk from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. Finally, Citigroup boosted their price objective on Autodesk from $269.00 to $276.00 and gave the company a "neutral" rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Autodesk has an average rating of "Moderate Buy" and an average target price of $316.84.

Autodesk Trading Up 4.1%

NASDAQ:ADSK opened at $254.95 on Friday. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week high of $320.00. The company's 50 day moving average price is $232.11 and its 200-day moving average price is $228.14. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.59. The stock has a market cap of $53.28 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 1.62 and a beta of 1.33.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its earnings results on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, topping analysts' consensus estimates of $3.12 by $0.18. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the firm posted $2.62 EPS. The firm's 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. On average, equities research analysts forecast that Autodesk, Inc. will post 9.70 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ADSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autodesk, Inc. (NASDAQ:ADSK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.