Daiwa Securities Group Inc. Grows Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• Daiwa Securities Group boosted its Autodesk stake by 9.5% in the fourth quarter, bringing its holdings to 112,125 shares worth about $33.2 million. Several other hedge funds also increased or initiated positions, and institutional investors now own 90.24% of the stock.
• Autodesk reported better-than-expected quarterly results, with EPS of $2.99 versus $2.84 expected and revenue of $1.93 billion versus $1.89 billion expected. Revenue rose 18.4% year over year, and the company reaffirmed upbeat forward guidance.
• Recent developments remain supportive, including a strategic collaboration with AWS and a lower-cost Autodesk Flex offering for small businesses. Analyst sentiment is still positive overall, with a consensus rating of Moderate Buy and an average price target of $327.21.

Daiwa Securities Group Inc. increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,125 shares of the software company's stock after purchasing an additional 9,772 shares during the period. Daiwa Securities Group Inc. owned approximately 0.05% of Autodesk worth $33,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ADSK. OFI Invest Asset Management increased its stake in shares of Autodesk by 246.4% in the 4th quarter. OFI Invest Asset Management now owns 52,649 shares of the software company's stock valued at $15,585,000 after acquiring an additional 37,449 shares in the last quarter. Freemont Management S.A. purchased a new position in shares of Autodesk in the 3rd quarter worth about $4,765,000. Renaissance Group LLC purchased a new position in shares of Autodesk in the 3rd quarter worth about $33,789,000. Caprock Group LLC bought a new stake in Autodesk in the 3rd quarter valued at about $2,288,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in Autodesk by 46.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 532,504 shares of the software company's stock valued at $157,627,000 after acquiring an additional 169,099 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

NASDAQ ADSK opened at $229.96 on Friday. The business's 50 day moving average price is $237.72 and its 200-day moving average price is $258.17. The company has a market cap of $48.52 billion, a P/E ratio of 33.52, a P/E/G ratio of 1.48 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.85 and a current ratio of 0.83. Autodesk, Inc. has a fifty-two week low of $214.10 and a fifty-two week high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.15. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The business's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business 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. Sell-side analysts predict that Autodesk, Inc. will post 9.35 earnings per share for the current year.

Key Headlines Impacting Autodesk

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk signed a strategic collaboration agreement with AWS to bring cloud-based products into AWS Marketplace and improve cloud solutions for customers, which could widen distribution and strengthen enterprise adoption. Autodesk signs strategic collaboration agreement with Amazon Web Services
• Positive Sentiment: Autodesk lowered the minimum buy-in for Autodesk Flex to 33 tokens for $99 from 100 tokens for $300, making it easier and cheaper for small businesses to start using its products and potentially expanding its user base. Autodesk for Small Business update: Making it more affordable to get started with Autodesk Flex

Wall Street Analysts Forecast Growth

ADSK has been the topic of several analyst reports. Argus upgraded Autodesk to a "strong-buy" rating in a research report on Friday, March 6th. Rothschild & Co Redburn reduced their price target on shares of Autodesk from $375.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, June 1st. Morgan Stanley dropped their price objective on Autodesk from $350.00 to $315.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. KeyCorp dropped their price target on Autodesk from $365.00 to $341.00 and set an "overweight" rating for the company in a research note on Thursday, May 21st. Finally, Stifel Nicolaus lowered their price objective on Autodesk from $375.00 to $285.00 and set a "buy" rating for the company in a research report on Monday, February 23rd. Two 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $327.21.

Insider Buying and Selling at Autodesk

In related news, Director Stacy J. Smith bought 3,435 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director directly owned 26,517 shares in the company, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.

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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