Cumberland Partners Ltd Sells 18,646 Shares of Autodesk, Inc. $ADSK

Key Points

• Cumberland Partners Ltd cut its Autodesk stake by 72.7% in the first quarter, selling 18,646 shares and leaving it with 7,000 shares worth about $1.68 million.
• Insider buying was notable: Director John T. Cahill and EVP Janesh Moorjani both purchased shares recently, and insiders bought a total of 7,935 shares worth about $1.67 million over the last 90 days.
• Autodesk beat quarterly earnings expectations, reporting $2.99 EPS on $1.93 billion in revenue, while analysts maintain a Moderate Buy rating with a consensus price target of $323.40.

Cumberland Partners Ltd reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 72.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the software company's stock after selling 18,646 shares during the period. Cumberland Partners Ltd's holdings in Autodesk were worth $1,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Torren Management LLC acquired a new position in shares of Autodesk during the 4th quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Autodesk during the 3rd quarter worth $25,000. Kemnay Advisory Services Inc. acquired a new stake in Autodesk in the fourth quarter valued at about $25,000. Archer Investment Corp boosted 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 buying an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc bought a new position in Autodesk in the fourth quarter valued at about $27,000. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the acquisition, the director directly owned 4,000 shares of the company's stock, valued at approximately $756,800. The trade was a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Janesh Moorjani purchased 2,500 shares of the stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $197.67 per share, with a total value of $494,175.00. Following the acquisition, the executive vice president owned 50,993 shares in the company, valued at approximately $10,079,786.31. The trade was a 5.16% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 7,935 shares of company stock valued at $1,666,644 over the last ninety days. 0.14% of the stock is owned by company insiders.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $209.75 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week high of $329.09. The firm has a market cap of $44.26 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.26 and a beta of 1.32. The firm's fifty day moving average is $214.93 and its 200-day moving average is $235.32.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.Autodesk's quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 earnings per share. 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 predict that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADSK has been the subject of several research analyst reports. Jefferies Financial Group raised Autodesk to a "strong-buy" rating in a research note on Tuesday, May 26th. Barclays decreased their price target on shares of Autodesk from $315.00 to $300.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Rosenblatt Securities reissued a "buy" rating and issued a $330.00 price objective on shares of Autodesk in a research note on Monday, June 1st. Bank of America reaffirmed a "buy" rating and set a $300.00 target price on shares of Autodesk in a research note on Tuesday, May 12th. Finally, Rothschild & Co Redburn dropped 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. Three investment 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $323.40.

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.