Autodesk (NASDAQ:ADSK) Stock Price Down 4.5% – Here’s What Happened

Autodesk, Inc. (NASDAQ:ADSK)’s stock price fell 4.5% during mid-day trading on Friday . The stock traded as low as $196.57 and last traded at $196.3910. 789,054 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 2,198,612 shares. The stock had previously closed at $205.57.

Analysts Set New Price Targets

ADSK has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Autodesk in a report on Wednesday, June 3rd. Piper Sandler lowered their price target on shares of Autodesk from $383.00 to $369.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Wells Fargo & Company lowered their price target on shares of Autodesk from $350.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Jefferies Financial Group raised shares of Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, Zacks Research cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $327.21.

Autodesk Price Performance

The company’s fifty day moving average price is $236.34 and its 200 day moving average price is $255.92. The company has a market capitalization of $41.96 billion, a P/E ratio of 28.96, a PEG ratio of 1.36 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) last announced its earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.84 by $0.15. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. 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, sell-side analysts forecast that Autodesk, Inc. will post 9.64 EPS for the current year.

Insider Activity

In other news, Director Stacy J. Smith purchased 3,435 shares of Autodesk stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price 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. The trade was a 14.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Several large investors have recently made changes to their positions in ADSK. Norges Bank acquired a new stake in shares of Autodesk during the 4th quarter worth approximately $867,480,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Autodesk by 44,345.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock worth $675,055,000 after acquiring an additional 2,275,384 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock valued at $884,884,000 after buying an additional 952,343 shares in the last quarter. Wellington Management Group LLP boosted its position in Autodesk by 103.5% in the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company’s stock valued at $552,994,000 after buying an additional 950,149 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in Autodesk by 80.2% in the first quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company’s stock valued at $503,521,000 after buying an additional 936,388 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.