KBC Group NV Lowers Stock Position in Autodesk, Inc. $ADSK

KBC Group NV lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 10.3% in the first quarter, Holdings Channel.com reports. The fund owned 142,001 shares of the software company’s stock after selling 16,247 shares during the period. KBC Group NV’s holdings in Autodesk were worth $33,995,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Autodesk by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company’s stock worth $6,362,192,000 after buying an additional 78,928 shares in the last quarter. State Street Corp lifted its stake in Autodesk by 0.7% during the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock valued at $3,006,818,000 after acquiring an additional 70,053 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Autodesk by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock valued at $1,677,404,000 after acquiring an additional 123,691 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Autodesk by 46.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock valued at $884,884,000 after acquiring an additional 952,343 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Autodesk in the fourth quarter worth approximately $867,480,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average cost of $189.20 per share, with a total value of $378,400.00. Following the acquisition, the director owned 4,000 shares of the company’s stock, valued at approximately $756,800. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stacy J. Smith purchased 3,435 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the purchase, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is owned by insiders.

Autodesk Trading Down 0.3%

Shares of Autodesk stock opened at $217.80 on Tuesday. The stock has a market cap of $45.96 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.32. The firm has a fifty day moving average price of $217.06 and a 200 day moving average price of $237.33. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $329.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.84 by $0.15. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company 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. Equities research analysts predict that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADSK. BMO Capital Markets decreased their target price on shares of Autodesk from $279.00 to $262.00 and set a “market perform” rating for the company in a research note on Friday, May 29th. Robert W. Baird reduced their price objective on Autodesk from $355.00 to $312.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Rothschild & Co Redburn lowered their target price on Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a report on Monday, June 1st. BTIG Research reissued a “buy” rating and issued a $300.00 target price on shares of Autodesk in a research report on Friday, May 29th. Finally, Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $326.10.

Autodesk 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.