Chevy Chase Trust Holdings LLC Cuts Position in Autodesk, Inc. $ADSK

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 109,755 shares of the software company’s stock after selling 3,792 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Autodesk were worth $34,866,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Autodesk by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 21,414,239 shares of the software company’s stock valued at $6,802,661,000 after acquiring an additional 450,724 shares in the last quarter. State Street Corp increased its holdings in Autodesk by 1.8% in the 2nd quarter. State Street Corp now owns 10,086,995 shares of the software company’s stock valued at $3,122,631,000 after purchasing an additional 174,247 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Autodesk by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 5,831,447 shares of the software company’s stock valued at $1,805,241,000 after purchasing an additional 88,066 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Autodesk by 18.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,544,520 shares of the software company’s stock valued at $1,125,988,000 after purchasing an additional 564,136 shares during the period. Finally, Amundi lifted its stake in shares of Autodesk by 3.0% during the third quarter. Amundi now owns 2,726,105 shares of the software company’s stock worth $881,704,000 after purchasing an additional 79,171 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADSK has been the topic of several recent research reports. Rosenblatt Securities reduced their price target on Autodesk from $375.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Macquarie Infrastructure lifted their price objective on shares of Autodesk from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Bank of America boosted their target price on shares of Autodesk from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Wells Fargo & Company decreased their target price on shares of Autodesk from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, Citigroup raised their price target on shares of Autodesk from $315.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average price target of $341.96.

Autodesk Price Performance

Shares of ADSK opened at $251.17 on Monday. Autodesk, Inc. has a 52 week low of $215.01 and a 52 week high of $329.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.82. The firm has a market cap of $53.00 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 1.66 and a beta of 1.45. The stock has a 50 day moving average of $252.57 and a 200-day moving average of $287.70.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, February 26th. The software company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.21. Autodesk had a net margin of 15.60% and a return on equity of 53.51%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company earned $2.29 earnings per share. The firm’s revenue was up 19.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.290-12.560 EPS and its Q1 2027 guidance at 2.820-2.860 EPS. As a group, analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current 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.