Burney Co. Cuts Stock Position in Autodesk, Inc. $ADSK

Key Points

• Burney Co. cut its Autodesk stake by 55% in the first quarter, selling 42,097 shares and leaving it with 34,477 shares valued at about $8.25 million.
• Several large institutional investors still hold major positions in Autodesk, and the company remains 90.24% owned by hedge funds and other institutions.
• Autodesk reported better-than-expected quarterly results, with EPS of $2.99 and revenue of $1.93 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $326.10.

Burney Co. lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 55.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,477 shares of the software company's stock after selling 42,097 shares during the quarter. Burney Co.'s holdings in Autodesk were worth $8,254,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Autodesk by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock worth $6,362,192,000 after buying an additional 78,928 shares during the period. State Street Corp increased its position in shares of Autodesk by 0.7% during the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company's stock worth $3,006,818,000 after acquiring an additional 70,053 shares during the period. Geode Capital Management LLC raised its stake in shares of Autodesk by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock valued at $1,677,404,000 after acquiring an additional 123,691 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock valued at $884,884,000 after purchasing an additional 952,343 shares during the period. Finally, Norges Bank acquired a new position in Autodesk during the 4th quarter worth $867,480,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

ADSK has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on Autodesk from $350.00 to $315.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 26th. Barclays cut their target price on shares of Autodesk from $315.00 to $300.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. BNP Paribas Exane assumed coverage on shares of Autodesk in a report on Thursday, June 18th. They issued an "outperform" rating and a $295.00 target price on the stock. DA Davidson reiterated a "buy" rating and issued a $325.00 price target on shares of Autodesk in a research note on Friday, May 29th. Finally, BTIG Research reiterated a "buy" rating and set a $300.00 price target 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-three have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $326.10.

Insider Buying and Selling at Autodesk

In related news, EVP Janesh Moorjani bought 2,500 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, with a total value of $494,175.00. Following the transaction, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stacy J. Smith purchased 3,435 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the purchase, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 7,935 shares of company stock worth $1,666,644 over the last three months. Insiders own 0.14% of the company's stock.

Autodesk Stock Up 0.0%

Shares of NASDAQ ADSK opened at $207.54 on Tuesday. The business has a 50-day moving average of $223.32 and a two-hundred day moving average of $244.07. The company has a market capitalization of $43.79 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $329.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating 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 business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The business's revenue for the quarter was up 18.4% on a year-over-year basis. 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 forecast that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

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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