Van ECK Associates Corp lowered its position in Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 6.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,930 shares of the software company’s stock after selling 4,874 shares during the period. Van ECK Associates Corp’s holdings in Autodesk were worth $13,596,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP boosted its holdings in shares of Autodesk by 17.8% during the 1st quarter. Quantinno Capital Management LP now owns 385,572 shares of the software company’s stock worth $92,306,000 after buying an additional 58,285 shares during the period. SG Americas Securities LLC increased its position in Autodesk by 158.4% in the 1st quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock worth $65,248,000 after buying an additional 167,064 shares during the period. Man Group plc increased its position in Autodesk by 28.6% in the 4th quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock worth $364,076,000 after buying an additional 273,765 shares during the period. Deutsche Bank AG acquired a new position in shares of Autodesk during the second quarter worth approximately $322,851,000. Finally, Seilern Investment Management Ltd lifted its holdings in shares of Autodesk by 11.0% during the second quarter. Seilern Investment Management Ltd now owns 227,675 shares of the software company’s stock worth $44,265,000 after buying an additional 22,547 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.
Autodesk News Summary
Here are the key news stories impacting Autodesk this week:
- Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and set a $330 price target, implying substantial upside. Rosenblatt Reiterates Buy Rating on Autodesk
- Positive Sentiment: Barclays maintained its Buy rating, supporting the view that Autodesk’s growth prospects remain attractive. Barclays Sticks to Its Buy Rating for Autodesk
- Positive Sentiment: BNP Paribas Exane raised its price target to $300, while BMO Capital Markets also forecast strong appreciation, reflecting continued analyst confidence. BNP Paribas Exane Raises Autodesk Price Target
- Positive Sentiment: Autodesk recently exceeded quarterly EPS and revenue expectations, with revenue increasing 16.1% year over year. Earnings-call commentary also highlighted growth momentum. Autodesk Earnings Call Highlights Growth Momentum
- Neutral Sentiment: Citigroup raised its price target from $269 to $276 but retained a Neutral rating, suggesting limited conviction despite a higher valuation estimate. Benzinga Autodesk Analyst Update
- Negative Sentiment: Autodesk faces mounting shareholder lawsuits and potential uninsured liabilities following a cash-flow probe, creating legal, financial and reputational uncertainty. Autodesk Faces Shareholder Lawsuits and Potential Uninsured Liabilities
- Negative Sentiment: Piper Sandler lowered its expectations for Autodesk’s stock price, adding a more cautious view to the otherwise favorable analyst consensus. Piper Sandler Lowers Autodesk Expectations
Autodesk Stock Down 0.8%
Autodesk (NASDAQ:ADSK – Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.18. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.62 EPS. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. On average, analysts anticipate that Autodesk, Inc. will post 9.7 EPS for the current year.
Insider Activity
In related news, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $189.20 per share, with a total value of $378,400.00. Following the purchase, the director directly owned 4,000 shares in the company, valued at $756,800. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Janesh Moorjani bought 2,500 shares of Autodesk stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. This represents a 5.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.14% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on ADSK. Weiss Ratings cut shares of Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Citigroup boosted their price objective on shares of Autodesk from $269.00 to $276.00 and gave the stock a “neutral” rating in a report on Monday. Morgan Stanley cut their price objective on shares of Autodesk from $350.00 to $315.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. BMO Capital Markets increased their target price on shares of Autodesk from $262.00 to $283.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Two equities research 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’s stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.62.
View Our Latest Stock Report on Autodesk
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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