LGT Group Foundation Sells 24,562 Shares of Autodesk, Inc. $ADSK

Key Points

• LGT Group Foundation trimmed its stake in Autodesk by 7.8%, selling 24,562 shares and leaving 290,939 shares (about 0.14% of the company) valued at approximately $91.86 million, making ADSK its 22nd-largest holding.
• Autodesk beat expectations for the quarter with $2.85 EPS vs. $2.64 expected and $1.96B revenue (up 19.4% YoY), and set FY2027 guidance of $12.29–$12.56 EPS.
• Analyst and institutional backdrop: Around 90.24% of ADSK is held by institutions, analysts give a consensus "Moderate Buy" with an average target near $341.96, despite some recent target downgrades.

LGT Group Foundation lessened its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,939 shares of the software company's stock after selling 24,562 shares during the period. Autodesk makes up about 1.1% of LGT Group Foundation's holdings, making the stock its 22nd biggest holding. LGT Group Foundation owned 0.14% of Autodesk worth $91,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Autodesk by 12.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,180 shares of the software company's stock valued at $48,661,000 after acquiring an additional 17,358 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Autodesk by 18.7% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 130,669 shares of the software company's stock valued at $41,510,000 after purchasing an additional 20,543 shares in the last quarter. Pacific Heights Asset Management LLC grew its holdings in shares of Autodesk by 26.9% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 85,000 shares of the software company's stock valued at $27,002,000 after purchasing an additional 18,000 shares during the last quarter. Freemont Management S.A. bought a new stake in Autodesk in the third quarter worth $4,765,000. Finally, Renaissance Group LLC purchased a new stake in Autodesk during the third quarter valued at about $33,789,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADSK. BTIG Research decreased their price objective on Autodesk from $365.00 to $300.00 and set a "buy" rating on the stock in a report on Friday, February 27th. HSBC decreased their price target on Autodesk from $388.00 to $379.00 and set a "buy" rating on the stock in a research note on Friday, November 28th. KeyCorp reissued an "overweight" rating on shares of Autodesk in a research note on Tuesday, December 16th. Citigroup raised their target price on shares of Autodesk from $315.00 to $331.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Autodesk in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $341.96.

Autodesk Price Performance

ADSK stock opened at $260.99 on Monday. The business's fifty day moving average price is $256.81 and its 200 day moving average price is $288.85. Autodesk, Inc. has a 12-month low of $215.01 and a 12-month high of $329.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $55.07 billion, a PE ratio of 49.81, a P/E/G ratio of 1.73 and a beta of 1.45.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its earnings results on Thursday, February 26th. The software company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $0.21. The company had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.91 billion. Autodesk had a return on equity of 53.51% and a net margin of 15.60%.Autodesk's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the business posted $2.29 EPS. Autodesk has set its FY 2027 guidance at 12.290-12.560 EPS and its Q1 2027 guidance at 2.820-2.860 EPS. On average, sell-side analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current year.

Autodesk 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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