Renaissance Group LLC Lowers Stake in Autodesk, Inc. $ADSK

Key Points

• Renaissance Group LLC cut its Autodesk stake by 27.8% in the fourth quarter, selling 29,539 shares and ending with 76,827 shares valued at about $22.7 million.
• Autodesk’s latest earnings beat expectations, with EPS of $2.99 versus the $2.84 estimate and revenue of $1.93 billion, up 18.4% from a year earlier.
• Analysts remain cautiously positive despite some lower price targets, with a consensus rating of “Moderate Buy” and an average target price of $327.21.

Renaissance Group LLC lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,827 shares of the software company's stock after selling 29,539 shares during the quarter. Renaissance Group LLC's holdings in Autodesk were worth $22,742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management increased its position in shares of Autodesk by 246.4% during the fourth quarter. OFI Invest Asset Management now owns 52,649 shares of the software company's stock valued at $15,585,000 after acquiring an additional 37,449 shares in the last quarter. Freemont Management S.A. bought a new position in Autodesk in the 3rd quarter valued at approximately $4,765,000. Caprock Group LLC bought a new position in Autodesk in the 3rd quarter valued at approximately $2,288,000. Robeco Institutional Asset Management B.V. boosted its stake 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 last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake 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 last quarter. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Down 1.2%

ADSK stock opened at $221.28 on Thursday. The business's 50-day moving average price is $237.02 and its 200-day moving average price is $256.52. The stock has a market cap of $46.69 billion, a P/E ratio of 32.26, a PEG ratio of 1.38 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. Autodesk, Inc. has a twelve month low of $214.10 and a twelve month high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its 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 net margin of 19.49% and a return on equity of 57.14%. The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the business earned $2.29 EPS. The firm's revenue was up 18.4% compared to the same quarter last year. 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, equities research analysts forecast that Autodesk, Inc. will post 9.64 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADSK. Morgan Stanley decreased their price target on Autodesk from $350.00 to $315.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. Rothschild & Co Redburn dropped their price objective on Autodesk from $375.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, June 1st. Barclays reduced their price objective on Autodesk from $315.00 to $300.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Robert W. Baird decreased their target price on Autodesk from $355.00 to $312.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $327.21.

Insider Activity

In other news, Director Stacy J. Smith acquired 3,435 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the transaction, the director directly owned 26,517 shares of the company's stock, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

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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