Centaurus Financial Inc. Sells 29,689 Shares of Autodesk, Inc. $ADSK

Key Points

• Centaurus Financial cut its Autodesk stake by 89.6% in the first quarter, selling 29,689 shares and retaining 3,448 shares valued at approximately $825,000.
• Autodesk reported a quarterly earnings and revenue beat, with EPS of $2.99 versus the $2.84 consensus and revenue up 18.4% year over year to $1.93 billion.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and an average price target of $323.40, while several insiders purchased shares during the quarter.

Centaurus Financial Inc. lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 89.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,448 shares of the software company's stock after selling 29,689 shares during the period. Centaurus Financial Inc.'s holdings in Autodesk were worth $825,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Autodesk during the 4th quarter valued at $867,480,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Autodesk by 44,345.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company's stock valued at $675,055,000 after purchasing an additional 2,275,384 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in 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 acquiring an additional 952,343 shares during the period. Wellington Management Group LLP raised its stake in shares of Autodesk by 103.5% during the 4th quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company's stock valued at $552,994,000 after purchasing an additional 950,149 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in shares of Autodesk by 80.2% during the first quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company's stock valued at $503,521,000 after buying an additional 936,388 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Down 0.3%

Shares of NASDAQ ADSK opened at $234.20 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average of $214.23 and a 200-day moving average of $233.57. The firm has a market capitalization of $49.42 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 1.44 and a beta of 1.32. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $2.29 earnings per share. Autodesk's quarterly revenue 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. Sell-side analysts expect that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of analyst reports. UBS Group restated a "buy" rating on shares of Autodesk in a research report on Friday, May 29th. Robert W. Baird decreased their target price on shares of Autodesk from $355.00 to $312.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Royal Bank Of Canada lowered their target price on shares of Autodesk from $335.00 to $305.00 and set an "outperform" rating on the stock in a research note on Friday, May 29th. Bank of America reissued a "buy" rating and issued a $300.00 price target on shares of Autodesk in a report on Tuesday, May 12th. Finally, BNP Paribas Exane began coverage on shares of Autodesk in a research report on Thursday, June 18th. They set an "outperform" rating and a $295.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $323.40.

Insider Activity

In related news, Director Stacy J. Smith acquired 3,435 shares of the company's stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $231.17 per share, with a total value of $794,068.95. Following the acquisition, the director owned 26,517 shares of the company's stock, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Janesh Moorjani bought 2,500 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average price of $197.67 per share, with a total value of $494,175.00. Following the completion of the transaction, the executive vice president directly owned 50,993 shares of the company's stock, valued at $10,079,786.31. This represents a 5.16% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is currently owned by corporate insiders.

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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