Local Pensions Partnership Investment Ltd lowered its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 680,379 shares of the software company's stock after selling 74,121 shares during the quarter. Autodesk makes up 2.8% of Local Pensions Partnership Investment Ltd's investment portfolio, making the stock its 16th largest position. Local Pensions Partnership Investment Ltd owned about 0.32% of Autodesk worth $132,221,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Autodesk during the fourth quarter valued at about $867,480,000. Northwestern Mutual Wealth Management Co. boosted 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 during the period. Arrowstreet Capital Limited Partnership grew its stake in Autodesk by 46.8% during 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. Wellington Management Group LLP grew its stake in Autodesk by 103.5% during the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company's stock valued at $552,994,000 after acquiring an additional 950,149 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in Autodesk by 80.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company's stock worth $503,521,000 after acquiring an additional 936,388 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on ADSK shares. Piper Sandler lowered their target price on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. BMO Capital Markets reduced their price target on shares of Autodesk from $279.00 to $262.00 and set a "market perform" rating for the company in a research report on Friday, May 29th. Rothschild & Co Redburn decreased their price target on shares of Autodesk from $375.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, June 1st. DA Davidson reiterated a "buy" rating and issued a $325.00 price objective on shares of Autodesk in a research report on Friday, May 29th. Finally, Loop Capital dropped their price objective on Autodesk from $250.00 to $235.00 and set a "hold" rating for the company in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and a consensus target price of $321.07.
Check Out Our Latest Research Report on Autodesk
Insider Buying and Selling
In other news, Director Stacy J. Smith bought 3,435 shares of Autodesk stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the purchase, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the transaction, the director directly owned 4,000 shares of the company's stock, valued at approximately $756,800. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 7,935 shares of company stock worth $1,666,644. Corporate insiders own 0.14% of the company's stock.
Autodesk Price Performance
ADSK stock opened at $251.66 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. Autodesk, Inc. has a one year low of $185.50 and a one year high of $329.09. The stock has a market cap of $53.10 billion, a PE ratio of 36.69, a P/E/G ratio of 1.58 and a beta of 1.29. The firm has a 50 day simple moving average of $216.31 and a two-hundred day simple moving average of $232.28.
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. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. On average, analysts predict that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.
Autodesk Company Profile
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Free Report)
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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