Diversify Wealth Management LLC Decreases Holdings in Autodesk, Inc. $ADSK

Key Points

• Diversify Wealth Management cut its Autodesk stake by 80.1% in the second quarter, selling 4,151 shares and retaining 1,030 shares valued at approximately $200,000.
• Autodesk reported stronger-than-expected quarterly results, with EPS of $2.99 versus the $2.84 consensus estimate and revenue of $1.93 billion, up 18.4% year over year.
• Institutional investors own 90.24% of Autodesk, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $321.07; insiders have also purchased 7,935 shares over the past 90 days.

Diversify Wealth Management LLC decreased its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 80.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,030 shares of the software company's stock after selling 4,151 shares during the quarter. Diversify Wealth Management LLC's holdings in Autodesk were worth $200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in Autodesk during the 4th quarter worth approximately $867,480,000. Northwestern Mutual Wealth Management Co. lifted 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 acquiring an additional 2,275,384 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock worth $884,884,000 after acquiring an additional 952,343 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Autodesk by 103.5% in the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company's stock worth $552,994,000 after acquiring an additional 950,149 shares during the last quarter. 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 worth $503,521,000 after purchasing an additional 936,388 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insider Activity

In other Autodesk news, EVP Janesh Moorjani acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the acquisition, the executive vice president owned 50,993 shares of the company's stock, valued at approximately $10,079,786.31. The trade was a 5.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stacy J. Smith acquired 3,435 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the transaction, 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 position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is currently owned by company insiders.

Autodesk Trading Down 2.4%

Shares of ADSK stock opened at $251.66 on Friday. The company's 50-day moving average price is $216.31 and its 200-day moving average price is $232.28. 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 stock has a market cap of $53.10 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 1.58 and a beta of 1.29. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.15. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk's revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business earned $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. As a group, equities analysts predict that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADSK shares. Bank of America restated a "buy" rating and issued a $300.00 price objective on shares of Autodesk in a report on Tuesday, May 12th. Weiss Ratings cut shares of Autodesk from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, July 10th. The Goldman Sachs Group initiated coverage on shares of Autodesk in a research note on Tuesday. They issued a "neutral" rating and a $260.00 price target on the stock. Guggenheim began coverage on shares of Autodesk in a research report on Wednesday, July 22nd. They set a "buy" rating and a $245.00 price target on the stock. Finally, Zacks Research cut shares of Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $321.07.

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.

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