Fifth Third Bancorp Raises Stock Position in Autodesk, Inc. $ADSK

Fifth Third Bancorp boosted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 563.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 68,850 shares of the software company's stock after acquiring an additional 58,466 shares during the period. Fifth Third Bancorp's holdings in Autodesk were worth $16,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Autodesk by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock worth $6,362,192,000 after buying an additional 78,928 shares during the last quarter. State Street Corp raised its holdings in shares of Autodesk by 0.7% during the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company's stock valued at $3,006,818,000 after acquiring an additional 70,053 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Autodesk by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock valued at $1,677,404,000 after acquiring an additional 123,691 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position 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 valued at $884,884,000 after acquiring an additional 952,343 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Autodesk in the fourth quarter valued at approximately $867,480,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on ADSK shares. BTIG Research reiterated a "buy" rating and set a $300.00 price target on shares of Autodesk in a research report on Friday, May 29th. Rothschild & Co Redburn decreased their price objective on Autodesk from $375.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, June 1st. Arete Research lowered their target price on shares of Autodesk from $460.00 to $456.00 and set a "buy" rating on the stock in a research note on Thursday, March 26th. DA Davidson reaffirmed a "buy" rating and set a $325.00 target price on shares of Autodesk in a report on Friday, May 29th. Finally, Zacks Research cut shares of Autodesk from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $326.10.

Autodesk Stock Down 3.0%

Shares of ADSK opened at $205.92 on Wednesday. Autodesk, Inc. has a 52-week low of $185.50 and a 52-week high of $329.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $219.31 and a two-hundred day simple moving average of $239.70. The company has a market capitalization of $43.45 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 1.31 and a beta of 1.32.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) 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 firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior 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. As a group, equities analysts forecast that Autodesk, Inc. will post 9.64 EPS for the current year.

Insider Transactions at Autodesk

In other news, Director Stacy J. Smith purchased 3,435 shares of Autodesk stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of $231.17 per share, with a total value of $794,068.95. Following the transaction, the director owned 26,517 shares in the company, valued at $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Janesh Moorjani acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the acquisition, the executive vice president directly owned 50,993 shares of the company's stock, valued at $10,079,786.31. The trade was a 5.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 7,935 shares of company stock worth $1,666,644 in the last 90 days. Insiders own 0.14% of the company's stock.

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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