California Public Employees Retirement System trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 571,461 shares of the software company’s stock after selling 26,916 shares during the period. California Public Employees Retirement System’s holdings in Autodesk were worth $136,808,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of ADSK. Brighton Jones LLC boosted its stake in shares of Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock valued at $343,000 after purchasing an additional 147 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Autodesk by 98.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company’s stock worth $765,000 after purchasing an additional 1,224 shares during the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Autodesk during the 2nd quarter worth about $466,000. Baird Financial Group Inc. increased its position in shares of Autodesk by 7.5% during the 2nd quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company’s stock worth $3,111,000 after purchasing an additional 701 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Autodesk by 25.3% during the 2nd quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company’s stock valued at $4,291,000 after purchasing an additional 2,795 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have weighed in on ADSK. Piper Sandler decreased their price objective 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. DA Davidson reiterated a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research note on Friday, May 29th. Zacks Research cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. UBS Group restated a “buy” rating on shares of Autodesk in a research report on Friday, May 29th. Finally, Loop Capital dropped their price target on Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a report on Friday, May 29th. Two research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.10.
Insider Activity at Autodesk
In other news, Director Stacy J. Smith acquired 3,435 shares of the firm’s stock in a transaction on 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 owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Janesh Moorjani bought 2,500 shares of the stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the purchase, the executive vice president directly owned 50,993 shares in the company, valued at approximately $10,079,786.31. This trade represents a 5.16% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 7,935 shares of company stock valued at $1,666,644 over the last quarter. Corporate insiders own 0.14% of the company’s stock.
Autodesk Stock Up 0.6%
Shares of NASDAQ:ADSK opened at $218.35 on Friday. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $329.09. The company’s 50-day moving average price is $217.43 and its two-hundred day moving average price is $238.34. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The firm has a market cap of $46.07 billion, a P/E ratio of 31.83, a P/E/G ratio of 1.34 and a beta of 1.32.
Autodesk (NASDAQ:ADSK – Get Free Report) last announced its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share 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 during the quarter, compared to the consensus estimate 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. As a group, research analysts forecast that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.
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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