BI Asset Management Fondsmaeglerselskab A S Has $25 Million Stake in Autodesk, Inc. $ADSK

Key Points

• BI Asset Management cut its Autodesk stake by 23.9% in the first quarter, selling 32,823 shares and leaving it with 104,418 shares valued at about $25 million.
• Several analysts remain upbeat on Autodesk, with recent ratings including strong-buy and buy calls. The stock’s consensus rating is Moderate Buy, with an average price target of $326.10.
• Autodesk reported strong quarterly results, posting EPS of $2.99 and revenue of $1.93 billion, both above expectations. The company also said revenue rose 18.4% year over year, while two insiders recently bought shares.

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 23.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,418 shares of the software company's stock after selling 32,823 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Autodesk were worth $24,998,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Torren Management LLC bought a new position in shares of Autodesk during the fourth quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Autodesk in the 3rd quarter worth about $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk in the 4th quarter worth about $25,000. Archer Investment Corp increased its position in shares of Autodesk by 112.2% during the 4th quarter. Archer Investment Corp now owns 87 shares of the software company's stock worth $26,000 after purchasing an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Autodesk during the 4th quarter worth about $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Autodesk to a "strong-buy" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. upped their price objective on shares of Autodesk from $319.00 to $336.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Rothschild & Co Redburn dropped their price objective on shares of Autodesk from $375.00 to $360.00 and set a "buy" rating for the company in a report on Monday, June 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Autodesk in a research note on Wednesday, June 3rd. Finally, UBS Group reissued a "buy" rating on shares of Autodesk in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Autodesk 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 purchased 3,435 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $231.17 per share, with a total value of $794,068.95. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Janesh Moorjani purchased 2,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average cost of $197.67 per share, with a total value of $494,175.00. Following the acquisition, the executive vice president owned 50,993 shares of the company's stock, valued at $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Stock Performance

Autodesk stock opened at $193.82 on Friday. The stock has a 50-day simple moving average of $231.38 and a 200 day simple moving average of $251.95. The stock has a market capitalization of $40.90 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 1.19 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. Autodesk, Inc. has a 12-month low of $190.86 and a 12-month high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.15. The firm 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%. The company's revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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, research 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.

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.