Ninety One North America Inc. Sells 23,893 Shares of Autodesk, Inc. $ADSK

Ninety One North America Inc. lessened its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 255,494 shares of the software company’s stock after selling 23,893 shares during the quarter. Autodesk comprises approximately 2.7% of Ninety One North America Inc.’s portfolio, making the stock its 9th largest position. Ninety One North America Inc. owned about 0.12% of Autodesk worth $53,398,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Autodesk in the 2nd quarter valued at $4,828,855,000. State Street Corp grew its holdings in shares of Autodesk by 2.9% during the 2nd quarter. State Street Corp now owns 10,268,172 shares of the software company’s stock worth $1,996,338,000 after purchasing an additional 284,621 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Autodesk by 5.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock worth $752,824,000 after purchasing an additional 155,255 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Autodesk during the 2nd quarter worth about $576,727,000. Finally, Pictet Asset Management Holding SA increased its position in shares of Autodesk by 30.6% during the 2nd quarter. Pictet Asset Management Holding SA now owns 2,746,643 shares of the software company’s stock worth $534,014,000 after purchasing an additional 643,267 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Autodesk in a research note on Thursday, September 24th. Weiss Ratings raised shares of Autodesk from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. New Street Research set a $277.00 price target on shares of Autodesk in a research note on Thursday, August 20th. Wall Street Zen lowered shares of Autodesk from a “buy” rating to a “hold” rating in a report on Monday, September 14th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Autodesk in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $316.84.

Autodesk Trading Up 5.3%

Shares of ADSK stock traded up $12.13 on Thursday, hitting $243.28. The stock had a trading volume of 1,147,911 shares, compared to its average volume of 2,291,229. The company’s 50 day moving average price is $232.82 and its 200-day moving average price is $227.78. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $320.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $50.84 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.53 and a beta of 1.33.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.18. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%. Autodesk’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the business posted $2.62 EPS. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Analysts anticipate that Autodesk, Inc. will post 9.70 earnings per share for the current year.

About Autodesk

Autodesk, Inc develops software and cloud-based services for people and organizations involved in architecture, engineering, construction, manufacturing, media and entertainment, and other design-related industries. Its tools help customers create, visualize, simulate and manage digital models and workflows throughout the product and building lifecycle.

The company’s products include AutoCAD for computer-aided design; Revit for building information modeling; Civil 3D for civil engineering and infrastructure design; Inventor and Fusion for product design and manufacturing; and Maya, 3ds Max and Arnold for media and entertainment production.