Prudential PLC Trims Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• Prudential PLC sharply reduced its Autodesk stake in the fourth quarter, cutting holdings by 81.9% and selling 40,167 shares. The firm ended the period with 8,882 shares worth about $2.63 million.
• Autodesk delivered stronger-than-expected quarterly results, reporting EPS of $2.99 on revenue of $1.93 billion, both above analyst estimates. Revenue rose 18.4% year over year, and the company also issued FY 2027 and Q2 2027 guidance.
• Analysts remain broadly positive on ADSK, with a consensus rating of “Moderate Buy” and a price target of $327.21. Recent reports included buy ratings from DA Davidson and UBS, though Citigroup maintained a neutral stance.

Prudential PLC decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 81.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,882 shares of the software company's stock after selling 40,167 shares during the period. Prudential PLC's holdings in Autodesk were worth $2,629,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. OFI Invest Asset Management increased its position in Autodesk by 246.4% during the 4th quarter. OFI Invest Asset Management now owns 52,649 shares of the software company's stock valued at $15,585,000 after purchasing an additional 37,449 shares during the period. Freemont Management S.A. purchased a new position in Autodesk during the 3rd quarter valued at $4,765,000. Caprock Group LLC purchased a new position in Autodesk during the 3rd quarter valued at $2,288,000. Robeco Institutional Asset Management B.V. increased its position in Autodesk by 46.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 532,504 shares of the software company's stock valued at $157,627,000 after purchasing an additional 169,099 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Autodesk by 0.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 946,476 shares of the software company's stock valued at $280,166,000 after purchasing an additional 4,845 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $229.96 on Monday. The stock has a market cap of $48.52 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 1.43 and a beta of 1.30. The firm's 50-day moving average is $237.72 and its 200 day moving average is $257.93. Autodesk, Inc. has a 1 year low of $214.10 and a 1 year high of $329.09. 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 (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.15. The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk's revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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. Sell-side analysts anticipate that Autodesk, Inc. will post 9.55 EPS for the current fiscal year.

Analysts Set New Price Targets

ADSK has been the topic of a number of research analyst reports. DA Davidson reissued a "buy" rating and set a $325.00 price objective on shares of Autodesk in a research report on Friday, May 29th. Citigroup boosted their price objective on shares of Autodesk from $246.00 to $252.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Autodesk from $375.00 to $330.00 and set a "buy" rating on the stock in a research report on Monday, March 2nd. UBS Group reissued a "buy" rating on shares of Autodesk in a research report on Friday, May 29th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Autodesk in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Autodesk currently has a consensus rating of "Moderate Buy" and a consensus price target of $327.21.

Trending Headlines about Autodesk

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk signed a strategic collaboration agreement with AWS to bring cloud-based products into AWS Marketplace and improve cloud solutions for customers, which could widen distribution and strengthen enterprise adoption. Autodesk signs strategic collaboration agreement with Amazon Web Services
• Positive Sentiment: Autodesk lowered the minimum buy-in for Autodesk Flex to 33 tokens for $99 from 100 tokens for $300, making it easier and cheaper for small businesses to start using its products and potentially expanding its user base. Autodesk for Small Business update: Making it more affordable to get started with Autodesk Flex

Insider Transactions at Autodesk

In related news, Director Stacy J. Smith bought 3,435 shares of the stock in a transaction on Friday, May 29th. The shares were acquired 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 of the company's stock, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding ADSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autodesk, Inc. (NASDAQ:ADSK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.