Autodesk, Inc. $ADSK Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 39.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,023 shares of the software company’s stock after selling 11,100 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Autodesk were worth $4,075,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Autodesk in the fourth quarter worth about $867,480,000. Northwestern Mutual Wealth Management Co. grew 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 valued at $675,055,000 after acquiring an additional 2,275,384 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of 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 increased its holdings in Autodesk by 103.5% in the 4th quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company’s stock worth $552,994,000 after acquiring an additional 950,149 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Autodesk by 80.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company’s stock worth $503,521,000 after purchasing an additional 936,388 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADSK has been the topic of several research reports. UBS Group reissued a “buy” rating on shares of Autodesk in a research note on Friday, May 29th. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Citigroup upped their price objective on shares of Autodesk from $246.00 to $252.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Rothschild & Co Redburn reduced their price objective on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, DA Davidson reiterated a “buy” rating and issued a $325.00 price target on shares of Autodesk in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $326.10.

Insider Buying and Selling

In other Autodesk news, EVP Janesh Moorjani acquired 2,500 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the transaction, the executive vice president owned 50,993 shares of the company’s stock, valued at $10,079,786.31. The trade was a 5.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Cahill bought 2,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the purchase, the director directly owned 4,000 shares of the company’s stock, valued at approximately $756,800. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 7,935 shares of company stock worth $1,666,644. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK traded down $0.13 during trading hours on Friday, reaching $208.45. 1,232,319 shares of the stock were exchanged, compared to its average volume of 3,168,891. 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, Inc. has a 52 week low of $185.50 and a 52 week high of $329.09. The firm has a 50 day simple moving average of $220.68 and a 200-day simple moving average of $241.36. The stock has a market capitalization of $43.98 billion, a P/E ratio of 30.39, a P/E/G ratio of 1.28 and a beta of 1.32.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted $2.29 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Autodesk Company 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.