Autodesk, Inc. $ADSK Stock Position Lifted by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its Autodesk stake by 11% in the fourth quarter, ending with 917,395 shares valued at about $271.7 million.
• Several analysts remain positive on Autodesk, with a consensus rating of “Moderate Buy” and an average price target of $326.10, despite a few recent target cuts and one downgrade to hold.
• Autodesk reported strong quarterly results, posting EPS of $2.99 versus expectations of $2.84 and revenue of $1.93 billion, while executives also made recent insider stock purchases.

Hsbc Holdings PLC boosted its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 917,395 shares of the software company's stock after buying an additional 90,645 shares during the quarter. Hsbc Holdings PLC owned approximately 0.43% of Autodesk worth $271,686,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Torren Management LLC acquired a new position in shares of Autodesk in the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Autodesk during the third quarter worth $25,000. Kemnay Advisory Services Inc. acquired a new stake in Autodesk during the fourth quarter valued at $25,000. Archer Investment Corp grew its stake in Autodesk by 112.2% in the fourth quarter. Archer Investment Corp now owns 87 shares of the software company's stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new position in Autodesk in the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Analyst Ratings Changes

ADSK has been the topic of several research reports. Arete Research dropped their target price on Autodesk from $460.00 to $456.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. DA Davidson reiterated a "buy" rating and set a $325.00 price target on shares of Autodesk in a report on Friday, May 29th. Rothschild & Co Redburn lowered their price target on Autodesk from $375.00 to $360.00 and set a "buy" rating for the company in a research note on Monday, June 1st. Piper Sandler dropped their price objective on Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Finally, Zacks Research lowered shares of Autodesk from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Autodesk currently has an average rating of "Moderate Buy" and a consensus target price of $326.10.

Insider Buying and Selling

In related news, Director Stacy J. Smith bought 3,435 shares of the firm's stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the transaction, the director directly owned 26,517 shares of the company's stock, valued at $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Janesh Moorjani purchased 2,500 shares of the stock in a transaction on Monday, June 15th. The shares were bought at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the acquisition, the executive vice president owned 50,993 shares of the company's stock, valued at approximately $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

NASDAQ ADSK opened at $193.82 on Friday. Autodesk, Inc. has a fifty-two week low of $190.86 and a fifty-two week high of $329.09. The stock's 50-day moving average is $231.38 and its two-hundred day moving average is $251.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $40.90 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 1.19 and a beta of 1.29.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The business's quarterly 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. On average, analysts anticipate 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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