Baldwin Investment Management LLC Lowers Stake in Autodesk, Inc. $ADSK

Key Points

• Baldwin Investment Management cut its Autodesk stake by 73% in the second quarter, selling 7,778 shares and retaining 2,879 shares worth approximately $560,000.
• Institutional investors and hedge funds own 90.24% of Autodesk, while insiders have recently purchased $1.67 million worth of shares over the past 90 days.
• Autodesk exceeded quarterly earnings and revenue estimates, reporting $2.99 in EPS and $1.93 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $321.07.

Baldwin Investment Management LLC trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 73.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,879 shares of the software company's stock after selling 7,778 shares during the period. Baldwin Investment Management LLC's holdings in Autodesk were worth $560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ADSK. Norges Bank purchased a new stake in shares of Autodesk in the fourth quarter worth about $867,480,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Autodesk by 44,345.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company's stock valued at $675,055,000 after buying an additional 2,275,384 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Autodesk by 46.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock valued at $884,884,000 after buying an additional 952,343 shares during the period. Wellington Management Group LLP lifted its position in shares of Autodesk by 103.5% during the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company's stock worth $552,994,000 after purchasing an additional 950,149 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Autodesk by 80.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company's stock valued at $503,521,000 after purchasing an additional 936,388 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Autodesk news, EVP Janesh Moorjani purchased 2,500 shares of the firm's stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the purchase, the executive vice president directly owned 50,993 shares of the company's stock, valued at approximately $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director owned 4,000 shares in the company, valued at $756,800. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 7,935 shares of company stock worth $1,666,644. Company insiders own 0.14% of the company's stock.

Autodesk Stock Up 3.4%

ADSK stock opened at $257.96 on Friday. The company has a market cap of $54.43 billion, a price-to-earnings ratio of 37.60, a PEG ratio of 1.53 and a beta of 1.29. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month 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 company has a 50 day moving average of $215.88 and a two-hundred day moving average of $232.15.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.84 by $0.15. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.29 EPS. 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, equities analysts anticipate that Autodesk, Inc. will post 9.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Zacks Research lowered shares of Autodesk from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Wells Fargo & Company dropped their price target on Autodesk from $350.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Rothschild & Co Redburn cut their target price on shares of Autodesk from $375.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, June 1st. Bank of America reiterated a "buy" rating and set a $300.00 price objective on shares of Autodesk in a research report on Tuesday, May 12th. Finally, BTIG Research reiterated a "buy" rating and issued a $300.00 target price on shares of Autodesk in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and an average price target of $321.07.

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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