Envestnet Asset Management Inc. Trims Holdings in Autodesk, Inc. $ADSK

Key Points

• Envestnet Asset Management reduced its Autodesk stake by 6.8% in the second quarter, selling 37,509 shares and retaining 511,927 shares valued at approximately $99.5 million. Institutional investors collectively own 90.24% of Autodesk.
• Analysts remain broadly bullish, with one Strong Buy, 25 Buy, and six Hold ratings. The stock has a consensus “Moderate Buy” rating and an average price target of $318.03.
• Autodesk exceeded quarterly expectations, reporting $3.30 in adjusted EPS versus a $3.12 consensus estimate and $2.05 billion in revenue, up 16.1% year over year. Shares opened at $209.40, near the lower end of their $185.50–$326.20 yearly range.

Envestnet Asset Management Inc. lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 6.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 511,927 shares of the software company's stock after selling 37,509 shares during the quarter. Envestnet Asset Management Inc. owned 0.24% of Autodesk worth $99,529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ADSK. First Horizon Corp increased its stake in Autodesk by 11.7% in the 1st quarter. First Horizon Corp now owns 514 shares of the software company's stock worth $123,000 after purchasing an additional 54 shares during the period. Gulf International Bank UK Ltd grew its holdings in shares of Autodesk by 0.5% in the fourth quarter. Gulf International Bank UK Ltd now owns 10,837 shares of the software company's stock worth $3,208,000 after purchasing an additional 56 shares during the last quarter. Ellevest Inc. increased its stake in shares of Autodesk by 5.9% in the fourth quarter. Ellevest Inc. now owns 1,001 shares of the software company's stock worth $296,000 after buying an additional 56 shares during the period. Sepio Capital LP increased its stake in shares of Autodesk by 0.5% in the fourth quarter. Sepio Capital LP now owns 12,641 shares of the software company's stock worth $3,742,000 after buying an additional 59 shares during the period. Finally, Hillsdale Investment Management Inc. raised its holdings in Autodesk by 1.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,160 shares of the software company's stock valued at $935,000 after buying an additional 60 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADSK. Rothschild & Co Redburn dropped their price target on shares of Autodesk from $375.00 to $360.00 and set a "buy" rating for the company in a research report on Monday, June 1st. BTIG Research restated a "buy" rating and issued a $300.00 price objective on shares of Autodesk in a research report on Friday, September 18th. Barclays reaffirmed an "overweight" rating on shares of Autodesk in a research note on Wednesday, August 19th. DA Davidson set a $325.00 target price on shares of Autodesk in a report on Friday, August 28th. Finally, New Street Research set a $277.00 target price on Autodesk in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $318.03.

Autodesk Stock Performance

Shares of ADSK opened at $209.40 on Friday. The company has a 50-day simple moving average of $233.67 and a two-hundred day simple moving average of $230.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $43.76 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31. Autodesk, Inc. has a one year low of $185.50 and a one year high of $326.20.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.18. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.The business's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.62 EPS. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. On average, analysts anticipate that Autodesk, Inc. will post 9.71 EPS for the current fiscal year.

About Autodesk

Autodesk, Inc develops software and cloud-based services for people and organizations that design, make and manage products, buildings, infrastructure and digital media. Its tools are used across architecture, engineering, construction, manufacturing, product design, media and entertainment, and related industries.

The company is best known for AutoCAD, its computer-aided design platform. Its broader portfolio includes Revit for building information modeling, Civil 3D for civil engineering, Inventor and Fusion for product design and manufacturing, Maya and 3ds Max for animation and visual effects, and construction-focused products such as Autodesk Construction Cloud.

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