LGT Group Foundation Decreases Position in Autodesk, Inc. $ADSK

LGT Group Foundation decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,939 shares of the software company’s stock after selling 24,562 shares during the period. Autodesk comprises approximately 1.1% of LGT Group Foundation’s portfolio, making the stock its 22nd largest position. LGT Group Foundation’s holdings in Autodesk were worth $91,858,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ADSK. Norges Bank purchased a new position in Autodesk in the second quarter valued at $777,202,000. Rakuten Investment Management Inc. purchased a new stake in Autodesk during the 3rd quarter worth about $268,649,000. Geode Capital Management LLC raised its position in Autodesk by 15.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,606,264 shares of the software company’s stock valued at $1,730,415,000 after purchasing an additional 734,449 shares in the last quarter. First Trust Advisors LP raised its position in Autodesk by 197.1% in the 3rd quarter. First Trust Advisors LP now owns 910,768 shares of the software company’s stock valued at $289,324,000 after purchasing an additional 604,235 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Autodesk by 18.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,544,520 shares of the software company’s stock valued at $1,125,988,000 after buying an additional 564,136 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Autodesk from $320.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Rothschild & Co Redburn set a $375.00 price target on shares of Autodesk in a research note on Friday, January 9th. Wolfe Research boosted their price target on shares of Autodesk from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Autodesk in a research report on Wednesday, January 21st. Finally, Rosenblatt Securities reduced their price objective on shares of Autodesk from $375.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $341.96.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $260.99 on Monday. Autodesk, Inc. has a 12 month low of $215.01 and a 12 month high of $329.09. The firm has a market capitalization of $55.07 billion, a P/E ratio of 49.81, a P/E/G ratio of 1.73 and a beta of 1.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day moving average price is $256.81 and its 200 day moving average price is $288.85.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, February 26th. The software company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.21. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.91 billion. Autodesk had a net margin of 15.60% and a return on equity of 53.51%. Autodesk’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Autodesk has set its FY 2027 guidance at 12.290-12.560 EPS and its Q1 2027 guidance at 2.820-2.860 EPS. As a group, sell-side analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

About Autodesk

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.