Sumitomo Mitsui Trust Group Inc. Boosts Stock Holdings in Autodesk, Inc. $ADSK

Key Points

• Sumitomo Mitsui Trust Group increased its Autodesk stake by 4.6% in the second quarter, acquiring 47,993 additional shares and bringing its holdings to 1.08 million shares valued at approximately $210.1 million.
• Institutional investors own 90.24% of Autodesk, while several major funds—including Vanguard, State Street, Geode Capital and Arrowstreet—also expanded their positions.
• Autodesk reported quarterly earnings of $2.99 per share and revenue of $1.93 billion, exceeding analyst expectations, while analysts maintain a “Moderate Buy” consensus with a $321.07 average price target.

Sumitomo Mitsui Trust Group Inc. lifted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,080,436 shares of the software company's stock after purchasing an additional 47,993 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.51% of Autodesk worth $210,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ADSK. Vanguard Group Inc. raised its position in shares of Autodesk by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock worth $6,362,192,000 after acquiring an additional 78,928 shares during the period. State Street Corp raised its holdings in shares of Autodesk by 0.7% during the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company's stock valued at $3,006,818,000 after acquiring an additional 70,053 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Autodesk by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock valued at $1,677,404,000 after purchasing an additional 123,691 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Autodesk by 5.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company's stock worth $752,824,000 after buying an additional 155,255 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Autodesk in the fourth quarter valued at approximately $867,480,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADSK. Piper Sandler cut their price objective on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. DA Davidson reissued a "buy" rating and issued a $325.00 price target on shares of Autodesk in a research note on Friday, May 29th. Loop Capital cut their price target on shares of Autodesk from $250.00 to $235.00 and set a "hold" rating for the company in a report on Friday, May 29th. BTIG Research reaffirmed a "buy" rating and set a $300.00 price target on shares of Autodesk in a research report on Friday, May 29th. Finally, Guggenheim started coverage on Autodesk in a research report on Wednesday, July 22nd. They issued a "buy" rating and a $245.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $321.07.

Autodesk Stock Down 2.4%

NASDAQ:ADSK opened at $251.66 on Friday. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week high of $329.09. The stock's fifty day moving average is $216.31 and its two-hundred day moving average is $232.28. The stock has a market capitalization of $53.10 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 1.58 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 (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating 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 period in the previous year, the firm posted $2.29 earnings per share. The company's 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. Research analysts anticipate that Autodesk, Inc. will post 9.7 EPS for the current year.

Insider Transactions at Autodesk

In other Autodesk news, EVP Janesh Moorjani bought 2,500 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, with a total value of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares in the company, valued at approximately $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the acquisition, the director owned 4,000 shares in the company, valued at $756,800. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is currently owned by corporate insiders.

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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