Aberdeen Group plc Cuts Stake in Autodesk, Inc. $ADSK

Aberdeen Group plc trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.2% in the 2nd quarter, Holdings Channel reports. The firm owned 349,158 shares of the software company’s stock after selling 8,019 shares during the period. Aberdeen Group plc’s holdings in Autodesk were worth $67,883,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its position in Autodesk by 17.8% in the first quarter. Quantinno Capital Management LP now owns 385,572 shares of the software company’s stock valued at $92,306,000 after buying an additional 58,285 shares during the last quarter. SG Americas Securities LLC grew its position in Autodesk by 158.4% in the 1st quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock valued at $65,248,000 after acquiring an additional 167,064 shares in the last quarter. Man Group plc boosted its position in Autodesk by 28.6% in the 4th quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock valued at $364,076,000 after buying an additional 273,765 shares during the period. Seilern Investment Management Ltd increased its holdings in Autodesk by 11.0% during the 2nd quarter. Seilern Investment Management Ltd now owns 227,675 shares of the software company’s stock worth $44,265,000 after purchasing an additional 22,547 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Autodesk by 9.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,032,443 shares of the software company’s stock valued at $247,167,000 after purchasing an additional 85,967 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Down 2.4%

Shares of NASDAQ ADSK opened at $251.66 on Friday. The company has a market cap of $53.10 billion, a P/E ratio of 36.69, a P/E/G ratio of 1.58 and a beta of 1.29. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month high of $329.09. The stock has a fifty day moving average price of $216.31 and a 200 day moving average price of $232.28.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm earned $2.29 earnings per share. The company’s revenue was up 18.4% on a year-over-year basis. 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 anticipate that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADSK. Citigroup boosted their target price on shares of Autodesk from $246.00 to $252.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Weiss Ratings cut Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. DA Davidson reaffirmed a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research note on Friday, May 29th. Bank of America reissued a “buy” rating and set a $300.00 target price on shares of Autodesk in a research note on Tuesday, May 12th. Finally, 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 note on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.07.

Insiders Place Their Bets

In other Autodesk news, 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 completion of the purchase, the director directly owned 4,000 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Janesh Moorjani acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 7,935 shares of company stock valued at $1,666,644 over the last 90 days. 0.14% of the stock is owned by company 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.