NewEdge Wealth LLC Cuts Stock Holdings in Autodesk, Inc. $ADSK

NewEdge Wealth LLC trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK) by 25.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,467 shares of the software company’s stock after selling 2,526 shares during the period. NewEdge Wealth LLC’s holdings in Autodesk were worth $1,788,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

ADSK has been the subject of several research analyst reports. Loop Capital dropped their price target on Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a research note on Friday, May 29th. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Citigroup raised their price objective on Autodesk from $246.00 to $252.00 and gave the company a “neutral” rating in a report on Friday, May 29th. BTIG Research restated a “buy” rating and issued a $300.00 target price on shares of Autodesk in a research report on Friday, May 29th. Finally, Piper Sandler cut their target price on Autodesk from $383.00 to $369.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.40.

Autodesk Stock Performance

Autodesk stock opened at $209.75 on Monday. The firm has a fifty day simple moving average of $214.93 and a two-hundred day simple moving average of $234.95. 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 twelve month low of $185.50 and a twelve month high of $329.09. The company has a market capitalization of $44.26 billion, a PE ratio of 30.58, a P/E/G ratio of 1.29 and a beta of 1.32.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm earned $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. Research analysts expect that Autodesk, Inc. will post 9.64 EPS for the current year.

Insider Buying and Selling

In related news, EVP Janesh Moorjani acquired 2,500 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This trade represents a 5.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average cost of $189.20 per share, with a total value of $378,400.00. Following the purchase, 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 position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 7,935 shares of company stock worth $1,666,644 in the last ninety days. 0.14% of the stock is owned by insiders.

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.