Kovitz Investment Group Partners LLC Decreases Stock Position in Autodesk, Inc. $ADSK

Key Points

• Kovitz Investment Group Partners cut its Autodesk stake by 71.5% in the fourth quarter, selling 28,822 shares and ending with 11,481 shares valued at about $3.4 million.
• Despite mixed institutional activity, Autodesk remains widely held: 90.24% of the stock is owned by hedge funds and other institutional investors, and several large firms increased their positions significantly.
• Autodesk reported better-than-expected quarterly results, with EPS of $2.99 versus $2.84 expected and revenue of $1.93 billion, while analysts maintain a Moderate Buy rating with an average target price of $326.10.

Kovitz Investment Group Partners LLC cut its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 71.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,481 shares of the software company's stock after selling 28,822 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Autodesk were worth $3,399,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Autodesk during the fourth quarter valued at $867,480,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Autodesk by 44,345.8% during 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 buying an additional 2,275,384 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Autodesk by 46.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock worth $884,884,000 after buying an additional 952,343 shares in the last quarter. Wellington Management Group LLP increased its holdings in Autodesk by 103.5% in the 4th quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company's stock worth $552,994,000 after buying an additional 950,149 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Autodesk by 197.1% in the 3rd quarter. First Trust Advisors LP now owns 910,768 shares of the software company's stock worth $289,324,000 after buying an additional 604,235 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADSK. DA Davidson restated a "buy" rating and set a $325.00 target price on shares of Autodesk in a research note on Friday, May 29th. Arete Research reduced their price target on shares of Autodesk from $460.00 to $456.00 and set a "buy" rating for the company in a research note on Thursday, March 26th. KeyCorp decreased their price objective on shares of Autodesk from $365.00 to $341.00 and set an "overweight" rating for the company in a report on Thursday, May 21st. Piper Sandler lowered their price objective on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Finally, Stifel Nicolaus dropped their target price on shares of Autodesk from $375.00 to $285.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $326.10.

Autodesk Price Performance

NASDAQ ADSK opened at $193.82 on Friday. The business's fifty day moving average is $231.38 and its 200 day moving average is $251.95. Autodesk, Inc. has a fifty-two week low of $190.86 and a fifty-two week high of $329.09. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $40.90 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 1.19 and a beta of 1.29.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the business posted $2.29 earnings per share. The business'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. Sell-side analysts predict that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Insider Activity at Autodesk

In other news, EVP Janesh Moorjani bought 2,500 shares of Autodesk stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average cost of $197.67 per share, with a total value of $494,175.00. Following the acquisition, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stacy J. Smith bought 3,435 shares of the firm's stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the purchase, the director owned 26,517 shares in the company, valued at $6,129,934.89. This trade represents a 14.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 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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