Franklin Resources Inc. trimmed its position in Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 18.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,695,683 shares of the software company’s stock after selling 396,219 shares during the period. Franklin Resources Inc.’s holdings in Autodesk were worth $501,939,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Erste Asset Management GmbH boosted its position in Autodesk by 64.1% during the fourth quarter. Erste Asset Management GmbH now owns 397,795 shares of the software company’s stock worth $118,887,000 after acquiring an additional 155,332 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Autodesk by 8.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 50,944 shares of the software company’s stock valued at $15,080,000 after acquiring an additional 3,815 shares during the last quarter. Manchester Capital Management LLC lifted its stake in shares of Autodesk by 9.6% during the 4th quarter. Manchester Capital Management LLC now owns 685 shares of the software company’s stock worth $203,000 after purchasing an additional 60 shares during the period. Fiera Capital Corp lifted its stake in shares of Autodesk by 32.8% during the 4th quarter. Fiera Capital Corp now owns 61,699 shares of the software company’s stock worth $18,264,000 after purchasing an additional 15,249 shares during the period. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Autodesk during the fourth quarter worth $1,658,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ADSK has been the subject of several analyst reports. Arete Research dropped their target price on Autodesk from $460.00 to $456.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Piper Sandler lowered their price target on Autodesk from $383.00 to $369.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Barclays cut their price objective on shares of Autodesk from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Rothschild & Co Redburn lowered their target price on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a report on Monday, June 1st. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $327.21.
Autodesk Trading Down 2.1%
NASDAQ ADSK opened at $225.04 on Tuesday. The firm has a market capitalization of $47.48 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 1.43 and a beta of 1.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. Autodesk, Inc. has a one year low of $214.10 and a one year high of $329.09. The company’s 50 day moving average price is $237.42 and its 200 day moving average price is $257.45.
Autodesk (NASDAQ:ADSK – Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. Autodesk’s revenue for the quarter 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. On average, sell-side analysts predict that Autodesk, Inc. will post 9.55 EPS for the current year.
Insider Transactions at Autodesk
In related news, Director Stacy J. Smith purchased 3,435 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the acquisition, the director owned 26,517 shares in the company, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.
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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